Tuesday, 4 August 2015
Last updated 3 hours ago
Jul 26 2011 | 12:56pm ET
Affiliated Managers Group, which owns stakes in several high-profile hedge funds, continued its strong run with an 81% jump in its second-quarter profit.
The Prides Crossing, Mass.-based firm doubled its quarterly profit both in the first and fourth quarters. It almost did so again, with profit soaring to $45.5 million from $25.2 million last quarter as revenue jumped 39% to $462.3 million.
Affiliated's total assets under management grew 2.5% in the second quarter to $348.4 billion on net inflows of $7.5 billion.
AMG invests in asset management companies, and owns stakes in hedge funds AQR Capital Management, BlueMountain Capital Management, ValueAct Capital and Value Partners Group
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…