AMG Buys Stake In Yacktman Asset Management

Apr 18 2012 | 10:31am ET

Affiliated Managers Group will acquire a majority stake in the $17 billion asset manager Yacktman Asset Management. The value of the deal has not been made public.

Following completion of the deal, Yacktman will continue to hold “a substantial portion” of the equity of the business and direct its day-to-day operations, according to an AMG statement announcing the purchase. All Yacktman’s senior professionals have agreed to long-term commitments with the firm and all Yacktman funds will become part of the Managers family of funds.

Yacktman, founded by Donald Yacktman in 1992, specializes in large-cap equities. Its flagship mutual funds, the Yacktman Fund and the Yacktman Focused Fund, have been assigned five-star ratings by MorningStar. Yacktman serves a number of institutional investors and high-net-worth individuals through separately managed accounts and sub-advisory mandates.

“We are very pleased to partner with Yacktman Asset Management, an outstanding firm with a highly attractive, concentrated alpha investment philosophy which has generated outperformance across all stages of the market cycle,” said Sean M. Healey, AMG’s chairman and chief executive officer. “Over the past two decades, Yacktman has delivered exceptional investment performance relative to both peers and benchmarks, as well as strong organic growth, including the challenging period for retail equity managers since 2008. With a remarkable long-term track record of outperformance, Yacktman is positioned for continued success globally. We look forward to working with our newest Affiliate on a range of strategic initiatives.”

AMG invests in asset management companies, and owns stakes in hedge funds AQR Capital Management, BlueMountain Capital Management and ValueAct Capital. As of December 31, 2011, the aggregate assets under management of AMG’s Affiliates were approximately $352 billion (pro forma for pending investments).

 


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