Affiliated Managers Group Stock Price, News & Analysis

Affiliated Managers Group, Inc. (AMG) is a finance and insurance sector company whose common stock trades on the New York Stock Exchange under the ticker AMG. The company is described in its public communications as a strategic partner to leading independent investment management firms globally. AMG is classified in the "Securities and Commodity Exchanges" industry and focuses on building long-term partnerships with independent, partner-owned investment managers.

According to multiple company press releases, AMG’s strategy is to generate long-term value by investing in high-quality independent partner-owned firms through a partnership approach. These partner firms, which AMG refers to as Affiliates, remain independent and partner-owned, while AMG allocates capital and other resources across what it calls its unique opportunity set. In its descriptions, AMG emphasizes that its approach is intended to magnify its Affiliates’ existing advantages and support their independence and ownership culture.

Business model and affiliate partnerships

AMG’s business model centers on taking equity interests in independent investment management firms and supporting them as Affiliates. In the Polygon description, Affiliated Managers Group is described as offering investment strategies to investors through a network of affiliates, typically by buying a majority interest in small to mid-size boutique asset managers and receiving a fixed percentage of revenue from these firms. The same description notes that Affiliates operate independently, with AMG providing strategic, operational, and technology support, as well as global distribution.

Across its public disclosures, AMG highlights that its Affiliates manage assets in private markets, liquid alternatives, and differentiated long-only investment strategies. Company press releases state that, as of various reporting dates in 2025, AMG’s aggregate assets under management were in the hundreds of billions of dollars, spread across these strategy categories. AMG also reports that its Affiliates managing private markets and liquid alternative strategies have attracted significant net client cash inflows, reflecting client demand for those strategies.

Investment strategies and asset mix

AMG’s reported assets under management are grouped into strategy categories. In its earnings releases and related tables, the company presents assets under management by strategy as private markets and liquid alternatives (together described as alternatives), and equities plus multi-asset and fixed income (described as differentiated long-only). These disclosures indicate that AMG’s affiliate network spans a broad range of investment approaches, including private market strategies, liquid alternative strategies, and long-only equity, multi-asset, and fixed income strategies.

The Polygon description further notes that AMG’s affiliate network has included firms dedicated to private markets, liquid alternatives, and equities, multi-asset, and bond strategies. It describes that AMG typically receives a fixed percentage of revenue from its affiliates, while those affiliates retain operational independence. This structure is consistent with AMG’s repeated emphasis on preserving the independence and ownership culture of its partner-owned firms.

Capital allocation and corporate finance activities

AMG’s public filings and press releases provide insight into how the company manages its capital structure and allocates capital. In its quarterly earnings press releases, AMG reports on share repurchases and cash dividends on its common stock. For example, in 2025 releases, AMG disclosed that it repurchased substantial amounts of its common stock and declared quarterly cash dividends of $0.01 per share, with payment dates and record dates specified in the related 8-K filings.

In an 8-K dated December 11, 2025, AMG reported that it completed the issuance and sale of 5.500% Senior Notes due 2036 with an aggregate principal amount of $425,000,000. The filing explains that these unsecured and unsubordinated senior notes were issued under an existing senior notes indenture and a third supplemental indenture, and that the notes bear interest at 5.500% per year, payable semiannually. The company stated that it intends to use the net proceeds from this issuance to redeem and settle its obligations related to its 5.15% Convertible Trust Preferred Securities due 2037, with any remaining proceeds expected to be used for general corporate purposes.

In a related 8-K dated December 8, 2025, AMG disclosed that it delivered a notice of redemption for all outstanding 5.15% Convertible Trust Preferred Securities due 2037 of AMG Capital Trust II. The company indicated that it would redeem these securities at 100% of principal plus accrued and unpaid interest, and that holders who convert prior to the redemption date would have their obligations satisfied entirely in cash. AMG described this refinancing as a step intended to simplify its capital structure while maintaining a long-duration debt profile.

Strategic collaborations and transactions

AMG’s strategy includes entering into partnerships and transactions with investment management firms. In a July 28, 2025 press release, AMG announced a definitive agreement to acquire a minority equity interest in Montefiore Investment, described as a leading middle-market private equity firm in France and southern Europe focused on the services sector. The release states that Montefiore’s management will retain a substantial majority of the firm’s equity, continue to lead the organization, and maintain full control of its investment process, strategy, and day-to-day operations, consistent with AMG’s partnership approach. AMG’s investment is intended to provide Montefiore with capital to invest in its capabilities and team and to enhance alignment with clients, while further diversifying AMG’s business and expanding its participation in global private markets.

In an October 1, 2025 press release, AMG and Brown Brothers Harriman (BBH) announced a strategic collaboration to expand BBH’s structured and alternative credit investment strategies into the U.S. wealth marketplace. As part of this collaboration, BBH formed a new subsidiary, BBH Credit Partners, to house its taxable fixed income and structured credit business. AMG agreed to provide seed capital for new structured and alternative credit products advised by BBH Credit Partners and to make a minority investment in that subsidiary. The release explains that the collaboration is intended to broaden access to BBH Credit Partners’ investment capabilities for the U.S. wealth market and to enhance AMG’s position as a sponsor of alternative strategies for that market.

AMG has also reported transactions involving existing Affiliates. In an August 6, 2025 press release, the company announced that it had entered into an agreement to sell its interest in Comvest Partners’ private credit business as part of an acquisition by Manulife Financial Corporation. AMG noted that its partnership with Comvest had provided growth capital and access to AMG’s capital formation capabilities, and that over the course of the partnership Comvest’s credit franchise grew significantly in assets under management. AMG stated that it would receive cash consideration for the sale, retain certain interests related to existing private credit funds and Comvest’s private equity business, and sell its interest in a joint venture fund as part of the transaction.

Financial reporting and performance measures

AMG regularly reports its financial and operating results through quarterly press releases and related Form 8-K filings. These disclosures include consolidated revenue, expenses, net income, and earnings per share, as well as supplemental performance measures such as Adjusted EBITDA (controlling interest) and Economic net income (controlling interest). The company provides reconciliations of these supplemental measures to GAAP figures and presents detailed tables on assets under management, net client cash flows, and strategy-level AUM changes.

In its 2025 quarterly releases, AMG highlighted metrics such as diluted earnings per share, Economic earnings per share, net client cash inflows, and growth in Adjusted EBITDA relative to prior periods. The company also emphasized net client cash inflows into alternative strategies, particularly private markets and liquid alternatives, and referenced strong client demand for these strategies. These disclosures are accompanied by conference calls and webcasts, with access details provided in the press releases.

Corporate governance and board composition

AMG’s governance structure includes a Board of Directors with committees such as an Audit Committee, as referenced in its press releases. In an August 14, 2025 press release, the company announced the appointment of Marcy Engel to its Board of Directors and the planned retirement of long-serving director Dwight D. Churchill. The release notes that Mr. Churchill had held various leadership roles on the Board, including Chair of the Audit Committee and Chair of the Board, and that his tenure coincided with a period of growth and evolution for the business and organization. The announcement of Ms. Engel’s appointment highlights her prior experience in financial services and on the board of another public alternative manager.

Regulatory status and securities

Affiliated Managers Group, Inc. is incorporated in Delaware, as stated in its Form 8-K filings. The company’s common stock, with a par value of $0.01 per share, is listed on the New York Stock Exchange under the symbol AMG. In addition to its common stock, AMG has multiple series of junior subordinated notes registered and trading on the New York Stock Exchange, identified in its 8-K filings as 5.875% Junior Subordinated Notes due 2059 (trading symbol MGR), 4.750% Junior Subordinated Notes due 2060 (MGRB), 4.200% Junior Subordinated Notes due 2061 (MGRD), and 6.750% Junior Subordinated Notes due 2064 (MGRE). The company’s SEC filings describe these instruments and their registration under the Securities Exchange Act.

Scale and industry role

Across its press releases in 2025, AMG reports aggregate assets under management in the hundreds of billions of dollars, with detailed breakdowns by strategy and changes over time. For example, tables included in its earnings releases show AUM at period end, average AUM, net client cash flows, and the impact of market changes, foreign exchange, and affiliate transactions. These disclosures illustrate AMG’s role as a holding company and strategic partner to a broad network of independent investment management firms, with exposure to private markets, liquid alternatives, and differentiated long-only strategies.

Through its partnership model, capital allocation activities, and collaborations with firms such as Montefiore Investment and BBH Credit Partners, AMG positions itself as a long-term partner to independent investment managers. Its public communications emphasize the preservation of affiliate independence, the support of ownership cultures, and the objective of generating long-term value by investing in and supporting high-quality partner-owned firms.