AMG Profit Doubles In Second Quarter

Jul 27 2010 | 12:09pm ET

Affiliated Managers Group, which owns stakes in several high-profile hedge funds, said its second-quarter income more than doubled to $25.2 million, thanks in no small part to several new acquisitions.

Beverly, Mass.-based AMG—whose portfolio includes stakes in AQR Capital Management and BlueMountain Capital Management—earned just $11 million in the second quarter of last year. Its revenue was up more than 50% to $332.1 million, and assets under management rose 7% in the second quarter and 19% in the first half to $248.9 billion. Inflows during the second quarter were $283 million.

In February, AMG bought British private equity firm Pantheon Ventures. The firm also owns stakes in hedge funds ValueAct Capital and Value Partners.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR