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Affiliated Managers Group, Inc. - AMG STOCK NEWS

Welcome to our dedicated page for Affiliated Managers Group news (Ticker: AMG), a resource for investors and traders seeking the latest updates and insights on Affiliated Managers Group stock.

Affiliated Managers Group, Inc. (NYSE: AMG) is a global asset management company with equity investments in leading boutique investment management firms known as affiliates. AMG partners with top-tier investment firms, providing them with operational autonomy while leveraging its global scale in product distribution, operations, and technology to fuel growth. As of March 31, 2024, AMG's affiliates managed approximately $699 billion across diverse investment strategies, including private markets, liquid alternatives, and differentiated long-only investments.

AMG's strategic investments span influential firms such as AQR Capital Management and Pantheon in alternative assets, which make up a significant portion of AMG’s AUM. For instance, AMG recently expanded its portfolio by acquiring a minority equity interest in Suma Capital, a pan-European private markets firm focused on sustainable infrastructure and growth strategies.

AMG's recent achievements highlight its robust financial condition and strategic growth initiatives. In 2023, AMG reported Economic Earnings per share of $19.48, demonstrating disciplined execution of its capital allocation strategy and investment in affiliates like Ara Partners, a firm specializing in industrial decarbonization. AMG’s flexible capital management, including the issuance of $450 million in 40-year junior hybrid debt, underscores its commitment to long-term value generation.

In addition to its financial performance, AMG is active in enhancing its affiliates' capabilities. Recent collaborations with Pantheon, one of its affiliates, include launching new private equity and private credit funds, reflecting AMG's commitment to innovation and expansion in private markets. Moreover, AMG's leadership transitions, such as the appointments of Thomas M. Wojcik as Chief Operating Officer and Dava E. Ritchea as Chief Financial Officer, signal a continued focus on strategic growth and operational excellence.

AMG continues to attract outstanding firms seeking partnership, offering growth capital, distribution support, and strategic capabilities to build enduring franchises. For more information about AMG and its affiliates, visit www.amg.com.

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The Third Avenue International Real Estate Value Fund (NASDAQ: REIFX) has celebrated its 10-year anniversary, marking a decade of notable achievements. The Fund has outperformed its benchmark by over 425 basis points annually. It received a 5-Star overall rating from Morningstar and a Silver Medalist designation in the Global Real Estate category as of April 30, 2024. Established by Portfolio Manager Quentin Velleley, CFA, in 2014, the Fund employs a value-oriented investing approach, focusing on long-term opportunities in international listed real estate. This strategy has positioned the Fund to benefit from pricing inefficiencies and uncorrelated returns, underpinned by its concentrated and rigorous investment methodology.

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AMG announced the acquisition of a minority equity interest in Suma Capital, a pan-European private markets firm specializing in the transition to a lower carbon economy. Suma, led by co-founders Enrique Tombas, David Arroyo, and Pablo Muller, manages approximately $800 million in assets focused on infrastructure and growth strategies. This partnership, AMG’s ninth private markets Affiliate, aligns with AMG's strategy to expand into secular growth areas. The specific terms of the transaction were not disclosed, and Suma's partners will retain a significant majority of the equity and continue to manage daily operations.

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AMG reported strong financial results for the first quarter of 2024, with an EPS of $4.14 and Economic EPS of $5.37. The company's net income stood at $150 million, with Economic Net Income reaching $187 million. Economic Earnings per share saw a significant 28% year-over-year increase. AMG also issued $450 million of 40-year junior hybrid debt and repurchased around $150 million in common stock.

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AMG (NYSE: AMG) will announce its first-quarter results on May 6, 2024. The company will report financial and operating results for the first quarter ended March 31, 2024, along with a conference call at 8:30 a.m. Eastern Time on the same day. The call will include discussions on future expectations led by top executives. Interested parties can access the call via phone or online, with a replay available shortly after. More information can be found on AMG's website.

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Third Avenue Real Estate Value UCITS Class A1 Shares has been recognized as the Best Global Real Estate Fund by LSEG Lipper for its exceptional risk-adjusted performance over three years. This marks the sixth consecutive year that the Third Avenue Real Estate team has been honored for outperforming its peers.
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AMG appoints Thomas M. Wojcik as COO and Dava E. Ritchea as CFO, effective April 1, 2024. Ritchea brings extensive experience in finance and investment management from firms like Sculptor Capital Management and Assured Investment Management. The appointments aim to enhance AMG's capital formation and financial management capabilities.
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AMG, a leading partner to independent investment management firms, reported an EPS of $5.15 and Economic EPS of $6.86 in Q4 2023. The full-year 2023 EPS was $17.42, with Economic EPS of $19.48. Net income (controlling interest) was $673 million, with Economic Net Income (controlling interest) of $718 million. The company completed an investment in Ara Partners, a private markets firm specializing in industrial decarbonization, repurchased $574 million in common stock, and celebrated 30 years of partnering with independent investment management firms. The company's capital management included share repurchases and a cash dividend of $0.01 per share of common stock.
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AMG to Report Q4 and Full Year 2023 Financial Results on February 5, 2024
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AMG appoints Reuben Jeffery III as the new Chair of the Board, effective January 26, 2024. Mr. Jeffery brings extensive experience in global financial services, having served in leadership roles at Rockefeller & Co., Goldman Sachs, and the U.S. government. His appointment marks a pivotal period in AMG's evolution as it celebrates 30 years of partnering with independent investment firms.
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AMG (Ticker: AMG) CFO Thomas M. Wojcik to speak at Goldman Sachs Financial Services Conference on December 5, 2023
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FAQ

What does Affiliated Managers Group (AMG) do?

AMG is a global asset management company that invests in boutique investment management firms, providing them with operational autonomy and leveraging its global scale in distribution, operations, and technology.

What are AMG's recent financial highlights?

In 2023, AMG reported Economic Earnings per share of $19.48 and continues to execute a disciplined capital allocation strategy, including investments in private markets and issuing $450 million in 40-year junior hybrid debt.

What is the significance of AMG's partnership with affiliates?

AMG partners with high-quality investment firms, offering operational autonomy and strategic support to enhance growth and capabilities. This includes providing growth capital, distribution support, and leveraging global scale.

Can you provide examples of AMG's affiliates?

Notable affiliates include AQR Capital Management, Pantheon, Ara Partners, and Suma Capital, which specialize in alternative assets, industrial decarbonization, and sustainable infrastructure investments, respectively.

How does AMG support the growth of its affiliates?

AMG offers strategic, operational, and technology support, along with growth capital and global distribution capabilities, to enhance the long-term growth and success of its affiliates.

What are AMG's assets under management (AUM)?

As of March 31, 2024, AMG's affiliates manage approximately $699 billion across diverse investment strategies, including private markets, liquid alternatives, and differentiated long-only investments.

What recent investments has AMG made?

AMG recently acquired a minority equity interest in Suma Capital, a firm focused on sustainable infrastructures and growth capital in Europe, and invested in Ara Partners, specializing in industrial decarbonization.

How does AMG's partnership model benefit their affiliates?

AMG's partnership model offers affiliates significant equity ownership while maintaining operational and investment autonomy, enabling them to leverage AMG's resources for long-term growth.

Who are the key executives at AMG?

Key executives include Jay C. Horgen, President and CEO, Thomas M. Wojcik, Chief Operating Officer, and Dava E. Ritchea, Chief Financial Officer.

What are AMG's strategic goals?

AMG aims to generate long-term value by investing in high-quality partner-owned firms, focusing on areas of highest growth and return, and supporting affiliates' growth through strategic partnerships.

Affiliated Managers Group, Inc.

Nasdaq:AMG

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