Tuesday, 7 July 2015
Last updated 32 min ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…