AMG has built a portfolio of well-respected affiliates, including Yacktman, Tweedy Browne, Third Avenue Management, Genesis Investment Management, AQR Capital Management, and Foyston Gordon & Payne.
AMG's affiliate model provides it with a diverse mix of AUM and revenue, with exposure to both value and growth investment styles, as well as fixed-income and alternative investments.
Higher tax rates and ongoing succession planning at boutique asset-management firms are expected to accelerate the sale of equity stakes in many of these firms to larger financial institutions like AMG. Read more
With each affiliate remaining independent, AMG's acquisition strategy hasn't generated significant synergies or efficiencies. The firm also cedes the operating leverage inherent in the asset-management business to its affiliates.
AMG's strategy depends on continued growth from existing affiliates and successful new investments in boutique asset managers.
As the size and scale of AMG's operations increase, the firm will need to make larger acquisitions or increase the sheer number of deals done in any given year to move the needle, increasing the risks associated with this strategy. Read more
Sean Healey has been CEO of Affiliated Managers Group since January 2005. He assumed the role of chairman of the board of directors in January 2011. Healey joined AMG in 1995 and became president and COO in 1999. Before joining the firm, he had worked Read more
Affiliated Managers Group offers investment strategies to both retail and institutional investors through its network of affiliates. The firm typically buys a majority interest Read more