Affiliated Managers Profit Up 81%

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


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of