AMG Increases its Investment in BlueMountain Capital Management
Affiliated Managers Group, Inc. (NYSE: AMG) today announced it has increased its investment in BlueMountain Capital Management LLC, a leading global credit alternatives manager which has been an AMG Affiliate since 2007.
Under the terms of the transaction, all eight members of BlueMountain’s management committee, including its Chief Executive Officer and co-founder Andrew Feldstein, as well as seven other partners, have entered into or renewed their long-term commitments with the firm. In addition, a significant portion of the proceeds from the transaction will be invested in BlueMountain funds. The firm will continue to operate independently, with no changes in day-to-day operations.
Founded in 2003, BlueMountain manages more than $7 billion in assets across a diverse set of strategies in the credit markets. With offices in New York and London, BlueMountain is a leader in fundamental long/short, structured credit, arbitrage and equity derivatives. The firm’s distinctive investment approach integrates fundamental company research, advanced quantitative methods, and proven market and product knowledge. BlueMountain’s investment team, which includes more than 65 experienced investment professionals, operates in a highly integrated manner, with risk management as a key element of the firm’s investment process.
“We are very pleased to significantly increase our investment in BlueMountain, which reflects the strength of our existing partnership as well as the firm’s excellent long-term growth prospects,” said Sean M. Healey, AMG’s Chairman and Chief Executive Officer. “With an outstanding management team and exceptional track record of generating strong absolute returns, BlueMountain has grown substantially since our initial investment. We look forward to continuing our successful partnership, which includes a range of strategic initiatives such as global distribution and succession-planning to position BlueMountain for the long term.”
“Our goal in founding BlueMountain was to build an outstanding culture of innovation and risk management that would allow the firm to outperform and deliver strong returns for investors, regardless of market conditions,” stated Mr. Feldstein. “The partnership with AMG helps us execute that vision by more fully aligning management’s long-term interests with those of our investors, providing capital to invest in BlueMountain products and enhancing our brand and distribution capabilities globally.”
About Affiliated Managers Group
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 June 30, 2012, the aggregate assets under management of AMG’s Affiliates were approximately $385 billion 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.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. 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 of our Affiliates and their ability to effectively market their investment strategies, and other risks detailed from time to time in AMG’s filings with the SEC. Reference is hereby made to the “Risk Factors” set forth in AMG’s Form 10-K for the year ended December 31, 2011.
AMG routinely posts information that may be significant for investors in the Investor Information section of its website, and encourages investors to consult that section regularly. For additional information, please visit www.amg.com.