On September 28, 2021, Affiliated Managers Group, Inc. announced that it will acquire a majority interest in Abacus Capital Group, LLC.
Under the terms of the transaction Affiliated Managers Group, Inc. (“AMG”) will acquire a majority interest in Abacus Capital Group, LLC (“Abacus”). Abacus managers will continue to own a substantial portion of the firm’s equity and direct Abacus’s day-to-day operations under AMG’s guidance. The transaction is expected to close in the fourth quarter of 2021. Further terms of the agreement were not disclosed.
AMG (NYSE: AMG), based in West Palm Beach, Florida, is a global asset management company that provides centralized assistance in strategic matters, marketing, distribution, product development and operations. As of June 30, 2021, AMG managed approximately $756 billion in assets.
Abacus, based in New York, is an investment manager specializing in acquiring, developing, managing, and selling multifamily real estate properties. Abacus has approximately $2 billion in assets under management.
To read the press release: please click here.