AMG Eyes More Alts. Firms For Acquisition

Aug 2 2012 | 11:13am ET

Boosting its stake in BlueMountain Capital Management hasn't slaked Affiliated Managers Group's hunger for acquisitions.

The Prides Crossing, Mass.-based firm, which invests in asset managers, said this week that it had increased its stake in New York-based BlueMountain, which it first invested in five years ago. Jefferies estimates that AMG doubled its previously 15% interest in BlueMountain for about $200 million.

But despite that move and despite AMG's declining profit picture, the firm is still on the hunt for money managers to add to its stable of 27 affiliates, which includes AQR Capital Management, ValueAct Capital and Value Partners Group.

"Our pipeline is very strong and weighted more to alternatives managers," CEO Sean Healey, "and we are also evaluating divestitures from U.S. and European banks."

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