AMG To S&P500

Jun 25 2014 | 6:44am ET

Several prominent hedge funds are heading to the Standard & Poor’s 500 Index—at least in part.

S&P Dow Jones Indices announced yesterday that Affiliated Managers Group—which owns minority stakes in a number of hedge fund firms—would join its large-capitalization index at the close of trading on Monday. AMG, which is based in Prides Crossing, Mass., will replace Forest Laboratories in the index.

Forest is being acquired by fellow pharmaceutical company Actavis, a deal agitated for by Carl Icahn, who owns 11% of Forest and who has led an activist campaign at for three years. Icahn is set to earn nearly $1.7 billion on the deal.

AMG owns stakes in AQR Capital Management, BlueMountain Capital Management and ValueAct Capital Management, among other hedge funds and asset managers. In addition, the firm has recently agreed to buy a 20% stake in D.E. Shaw Group from the estate of the bankrupt Lehman Brothers holdings.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

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

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...