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.
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.
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.
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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