AMG Reaches Agreement to Sell Equity Interests in BlueMountain
- AMG to receive
$91 millionin cash at closing, expected by year-end 2019
- Transaction will be immediately accretive to AMG’s earnings
“We are pleased to have had a good partnership with BlueMountain over many years, and also that we worked closely with our long-term partners at BlueMountain to achieve an outcome that is in the best interests of BlueMountain’s clients and employees and AMG’s shareholders. AMG’s strategy remains consistent: to generate long-term value by investing in leading independent active investment managers, through a proven partnership approach, and allocating resources across AMG's unique opportunity set to the areas of highest growth and return. We offer unique access to boutique investment capabilities at scale, while preserving and enhancing the elements critical to individual Affiliate success – including alignment of interests, investment independence, and operational autonomy. As BlueMountain becomes part of a larger consolidated organization, we wish
AMG is a global asset management company with equity investments in leading boutique investment management firms. 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 shareholder value through the growth of existing Affiliates, as well as through investments in new Affiliates and additional investments in existing Affiliates. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development and operations. As of June 30, 2019, AMG’s aggregate assets under management were approximately
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws, and could be impacted by a number of factors, including those described under the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K, as such factors may be updated from time to time in our periodic filings with the
Source: Affiliated Managers Group, Inc.