WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Jan. 5, 2016--
Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management
company, has acquired an equity interest in Baring Private Equity Asia
(“Baring Asia”). Baring Asia’s senior partners will continue to hold a
majority of the equity of the business and, consistent with AMG’s
partnership approach, direct its day-to-day operations.
Based in Hong Kong, Baring Asia is the largest dedicated Asian private
equity firm, and advises funds with total assets under management of
over US$8 billion. Founded by Jean Eric Salata in 1997, Baring Asia’s
investment philosophy is deeply rooted in the principles of capital
preservation and diversified portfolio construction. Through its
pan-Asian investment platform spanning offices in Hong Kong, Shanghai,
Beijing, Mumbai, Singapore, Jakarta, and Tokyo, Baring Asia’s 66
investment professionals specialize in growth-oriented investments,
sponsoring management buyouts and providing capital to companies for
expansion, recapitalization or acquisitions. With an 18-year track
record of alpha generation across multiple business cycles, Baring
Asia’s proprietary deal origination is facilitated by the firm’s
excellent reputation across Asia and lengthy list of IPO success
stories, as well as the depth of its local networks across an array of
industries. Baring Asia has received numerous awards for its outstanding
performance, including 2013 “Firm of the Year” by Asian Venture Capital
Journal India and 2013 “Mid-Market Firm of the Year in Asia” by Private
Equity International, and most recently, the Asian Venture Capital
Journal selected Baring Asia as the 2015 winner for “Fundraising of the
Year – Large Cap” and Jean Salata as “PE Professional of the Year.”
Baring Asia has over 30 portfolio companies across Asia which had in
aggregate 100,000 employees and US$30 billion in revenues in 2014, and
the firm’s diversified presence limits its exposure to volatility in any
single market. The firm’s client base comprises over 200 leading
institutional investors from over 20 countries, including pension plans,
insurance companies, endowments, foundations, and sovereign wealth funds.
“Baring Asia is AMG’s first Affiliate based in Asia, and with its
exceptional two-decade investment track record of returns and
outstanding prospects for future growth, the firm is an excellent
addition to our Affiliate group,” said Sean M. Healey, Chairman and
Chief Executive Officer of AMG. “As the leading pan-Asian private equity
firm, with over 70 investments across its history, Baring Asia has a
tremendous forward opportunity set in its private equity strategies; we
see meaningful demand from sophisticated clients globally for exposure
to secular growth opportunities in Asia, including through the private
equity format. Baring Asia also has a real estate fund, leveraging its
regional investment experience and offering excellent prospects for
further growth over time. As with other recent new Affiliate investments
in Europe and Africa, our partnership with Baring Asia demonstrates the
global appeal and broad applicability of AMG’s partnership approach. I
am very pleased to welcome Jean Salata and his partners to our Affiliate
group, and we look forward to working with our new partners on a variety
of initiatives to enhance the firm’s future growth and development.”
“We are extremely excited about this new partnership with AMG, and
believe it brings significant competitive advantages for our business.
AMG’s investment is an endorsement of our firm’s position as a leading
Asian alternative asset manager, and its unique partnership model allows
us to preserve our investment independence, operational autonomy, and
focus on generating strong returns for our clients over the long term,”
said Jean Eric Salata, Founding Partner and Chief Executive Officer of
Baring Asia. “With its unparalleled track record as a partner to
independent firms, including leading boutique alternative firms
globally, and the proven results of its global marketing and
distribution platform, we believe AMG is the ideal permanent partner for
Baring Asia as we move into our next phase of growth.”
Baring Asia will use the proceeds of the transaction to fund the growth
of its business and further align interests between its LPs and staff at
the firm. As part of the transaction, Baring Asia’s leadership has
agreed to long-term commitments with the firm. The terms of the
transaction were not disclosed.
About AMG
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 growth through the internal growth of
existing Affiliates, as well as through investments in new Affiliates.
In addition, AMG provides centralized assistance to its Affiliates in
strategic matters, marketing, distribution, product development and
operations. As of September 30, 2015, AMG’s aggregate assets under
management were approximately $627 billion, pro forma for investments
which have since closed, in more than 500 investment products across a
broad range of investment styles, asset classes and distribution
channels. For more information, please visit the Company’s website at www.amg.com.
About Baring Private Equity Asia
Baring Private Equity Asia is one of the largest and most established
independent alternative asset management firms in Asia and advises funds
that manage over USD8 billion in assets. The firm runs a pan-Asian
investment program, sponsoring management buyouts and providing growth
capital to companies for expansion or acquisitions, as well as a
pan-Asian real estate private equity investment program. The firm has
been investing in Asia since its formation in 1997 and has over 120
employees located across seven offices in Hong Kong, Shanghai, Beijing,
Mumbai, Singapore, Jakarta and Tokyo. Baring Asia currently has over 30
portfolio companies across Asia with a total of 100,000 employees and
sales of approximately USD30 billion in 2014.
For more information, please visit www.bpeasia.com.
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities
laws. These statements include, but are not limited to, statements
related to our expectations regarding the performance of our business,
our financial results, our liquidity and capital resources and other
non-historical statements. You can identify these forward-looking
statements by the use of words such as “outlook,” “guidance,”
“believes,” “expects,” “potential,” “continues,” “may,” “will,”
“should,” “seeks,” “approximately,” “predicts,” “projects,” “intends,”
“plans,” “estimates,” “anticipates” or the negative version of these
words or other comparable words. 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 and growth rates of our Affiliates and their
ability to effectively market their investment strategies, the mix of
Affiliate contributions to our earnings and other risks, uncertainties
and assumptions, including those described under the section entitled
“Risk Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2014, as such factors may be updated from time to time in
our periodic filings with the SEC, which are accessible on the SEC’s
website at www.sec.gov.
These factors should not be construed as exhaustive and should be read
in conjunction with the other cautionary statements that are included in
this release and in our filings with the SEC. We undertake no obligation
to publicly update or review any forward-looking statements, whether as
a result of new information, future developments or otherwise, except as
required by applicable law.
From time to time, AMG may use its website as a distribution channel
of material Company information. AMG routinely posts financial and other
important information regarding the Company in the Investor Relations
section of its website at www.amg.com
and encourages investors to consult that section regularly.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160105005991/en/
Source: Affiliated Managers Group, Inc.
AMG
Investor and Media Relations:
Alexandra Lynn
Selene
Oh
+1 (617) 747-3300
ir@amg.com
pr@amg.com
or
Baring
Private Equity Asia
Media Relations:
Richard Barton,
+852-3758-2686
richard.barton@newgate.asia