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

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.