Release Details

BOSTON, Feb 01, 2010 (BUSINESS WIRE) -- Affiliated Managers Group, Inc. (NYSE: AMG) and the management team of Artemis Investment Management Ltd ("Artemis") have reached a definitive agreement to purchase 100% of the equity of Artemis from Fortis Bank S.A./N.V., a subsidiary of BNP Paribas Group (EPA: BNP).

Following the closing of the transaction, AMG will own a majority equity interest in Artemis, with Artemis' management team also acquiring a substantial equity ownership and continuing to direct the day-to-day operations of the firm.

Founded in 1997, Artemis is a leading United Kingdom fund manager, specializing in active investment management for retail and institutional investors in the UK, as well as Europe and the Middle East. With offices in London and Edinburgh, Artemis manages approximately UK£10 billion (US$16 billion) in assets across a range of mutual funds and segregated institutional accounts. The investment team at Artemis comprises 17 experienced fund managers, including Adrian Frost, one of the most respected investment managers in the UK, and a range of premier investment managers in a variety of investment disciplines. As of December 31, 2009, more than 90% of the firm's retail products have generated first quartile performance since their respective launch dates. Morningstar UK named Artemis its Best Smaller Equity Fund House in 2008, and several of its funds have been recognized by Lipper UK for the strength of their long-term performance.

AMG is a global asset management company with equity investments in leading boutique investment management firms (its "Affiliates"). AMG's innovative partnership approach allows each Affiliate's management team to own significant equity in their firm while maintaining operational autonomy. AMG's strategy is to generate growth through the internal growth of existing Affiliates, as well as through investments in new Affiliates. As of December 31, 2009 (pro forma for pending investments), the aggregate assets under management of AMG's Affiliates were approximately $231 billion in more than 300 investment products across a broad range of investment styles, asset classes and distribution channels. Artemis is the second UK investment for AMG following its 2004 investment in Genesis Investment Management, a London-based emerging markets manager with approximately UK£14 billion (US$22 billion) under management.

Sean M. Healey, AMG's President and Chief Executive Officer, said, "As one of the UK's most highly regarded investment management firms, Artemis offers an outstanding array of investment products with strong long-term performance records. Our partnership with Artemis will enhance AMG's existing international product set, as well as deepen our client base in desirable and fast-growing markets."

Mr. Healey added, "We have tremendous respect for the experience and talent of the management team and are pleased to partner with them in purchasing the Artemis business. We believe an independent Artemis will be well positioned for further growth in both the retail and institutional markets in the UK, Europe and the Middle East."

Mark Tyndall, a founding partner of Artemis and its Chief Executive, said, "I am delighted that Artemis is returning to owner-management in partnership with AMG. Our affiliation with AMG will allow us to continue to attract and retain talented staff and to develop our business in the best interests of our clients. We have a strong, team-oriented culture and a focus on linking our fund managers' interests with those of the firm and our clients."

"By partnering with AMG, we will become part of a high quality organization with global scale and a proven partnership approach. This will provide both the management team and successive generations with meaningful equity stakes that align our interests with those of our clients. At the same time, this structure will preserve the successful characteristics and core elements of our business. We believe that this is an excellent outcome for our clients," added Mr. Tyndall.

The transaction remains subject to regulatory approval, and is expected to close at the beginning of the second quarter of 2010. The terms of the transaction were not disclosed.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws.Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including changes in the securities or financial markets or in general economic conditions, the availability of equity and debt financing, competition for acquisitions of interests in investment management firms, the ability to close pending investments, the investment performance of our Affiliates and their ability to effectively market their investment strategies, and other risks detailed from time to time in AMG's filings with the SEC.Reference is hereby made to the "Cautionary Statements" set forth in the Company's Form 10-K for the year ended December 31, 2008.

AMG routinely posts information that may be significant for investors in the Investor Information section of its website, and encourages investors to consult that section regularly.For additional information, please visit www.amg.com.

SOURCE: Affiliated Managers Group, Inc.

Affiliated Managers Group, Inc.
Investor Relations:
Alexandra Lynn
+1 (617) 747-3300
ir@amg.com
or
Media Relations:
Laura O'Brien
+1 (617) 747-3300
pr@amg.com
or
Artemis Investment Management Ltd
Media Relations:
Ross Leckie
+44 (0) 20 7399 6361
ross.leckie@artemisfunds.com