Affiliated Managers Reports Lower Profits

May 2 2012 | 2:58am ET

Despite its stable of prominent hedge funds and continued inflows, Affiliated Managers Group said that its first quarter profit fell year-on-year.

The Prides Crossing, Mass.-based firm, which invests in asset managers and owns stakes in AQR Capital Management, BlueMountain Capital Management, ValueAct Capital and Value Partners Group, among others, said its quarterly profit fell 4.4% to $37.4 million. The result was less than half analysts' expectations.

AMG's revenue fell 2% to $417.7 million, even as its portfolio firms' assets under management grew by nearly $40 billion since the end of last year, with net inflows of $7.08 billion.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...