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Affiliated Managers (AMG) Buys Minority Stake in Jackson Square

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Zacks Equity Research
·3 min read
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Affiliated Managers Group, Inc. AMG, together with the management team of Jackson Square Partners LCC, has acquired a minority stake in the latter from Macquarie Investment Management. Notably, the partners of Jackson Square will continue to hold majority interest in the business. The terms of the deal have not been revealed.

Shares of Affiliated Managers rallied 2.2% during Monday's trading session, reflecting positive investor sentiment.

As of Sep 30, 2020, the San Francisco-based Jackson Square, founded in 2014, had about $24 billion discretionary and non-discretionary assets under administration. It primarily specializes in long-only, growth-oriented equity strategies.

Jeffrey S. Van Harte, chairman and chief investment officer of Jackson Square, said, "Throughout our multi-decade history as a team, we have believed strongly in the principles of independence and alignment through investing alongside clients. We hold AMG in the highest regard and have long viewed AMG as the partner of choice for independent firms like ours."

Jay C. Horgen, president and CEO of Affiliated Managers, noted, "With the firm’s investment-centric culture and focus on concentrated strategies, Jackson Square has strong forward growth prospects. AMG’s partnership approach continues to attract outstanding boutique firms that wish to build an enduring franchise, preserve their independence, and leverage AMG’s distribution capabilities around the world."

Affiliated Managers has a robust liquidity position. This gives the company considerable capability to invest in other firms. The firm remains well positioned for growth, based on successful partnerships and focus on strengthening its retail market operations.

In the past year, shares of Affiliated Managers have gained marginally compared with the 10.4% rally of the industry it belongs to.

 

Currently, Affiliated Managers carries a Zacks Rank #3 (Hold).

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