Affiliated Managers Group Completes Its Transaction with Gofen and Glossberg, Inc.
Affiliated Managers Group Completes Its Transaction with Gofen and Glossberg, Inc.
May 7, 1997
CONTACT:
Lee Chertavian
Affiliated Managers Group
(617) 747-3305
Mark R. Goodman
Gofen and Glossberg, Inc.
(312) 828-1100
Katherine McMillan
Compton Consulting Group
(617) 451-2030
Boston, May 7, 1997 -- Affiliated Managers Group, Inc. (AMG) announced today that it has closed its investment in Gofen and Glossberg (G & G). AMG is a private, Boston-based holding company which makes equity investments in prominent mid-sized investment management firms.
Lee Chertavian
Affiliated Managers Group
(617) 747-3305
Mark R. Goodman
Gofen and Glossberg, Inc.
(312) 828-1100
Katherine McMillan
Compton Consulting Group
(617) 451-2030
Boston, May 7, 1997 -- Affiliated Managers Group, Inc. (AMG) announced today that it has closed its investment in Gofen and Glossberg (G & G). AMG is a private, Boston-based holding company which makes equity investments in prominent mid-sized investment management firms.
Founded in 1932, Chicago-based G & G is one of the oldest investment counseling firms in the midwest. With approximately $3.2 billion in assets under management, G & G manages investments for individuals, families, retirement plans, foundations and endowments.
As with other AMG investments, G & G will continue to be operated by the management team currently in place. Management will continue to hold a substantial ownership share in the firm, which will be renamed Gofen and Glossberg LLC.
This is the eighth investment to date for AMG, bringing total assets under management among all AMG affiliates to approximately $23 billion. AMG's structure allows individual members of each affiliate's management to retain or receive significant direct ownership in their firm, while maintaining operating autonomy. In addition, AMG provides assistance to its affiliates, when requested, in areas such as marketing, distribution, product-development and operations support. AMG focuses its investments on successful, mid-sized investment managers which are considered leaders in their respective investment disciplines.