On November 8, 2015, Affiliated Managers Group Inc. announced that it agreed to acquire an equity interest in three investment managers: Ivory Investment Management LP, Abax Investments (Pty) Ltd and Systematica Investments LP.
While the terms of the transactions were not disclosed, the respective senior partners of Ivory Investment Management LP (“Ivory”) and Abax Investments (Pty) Ltd. (“Abax”), and the senior management of Systematica Investments LP (“Systematica”), will continue to own a majority of the equity in their respective businesses. The senior personnel will also continue to direct the day-to-day operations of each of their businesses.
Affiliated Managers Group (“AMG”) is a global asset management company based in Boston. As of September 30, AMG’s aggregate assets under management were approximately $619 billion.
Ivory is a Los Angeles-based investment firm founded in 1998. As of September 30, 2015, Ivory’s aggregate assets under management were approximately $3.6 billion. Its assets represent both long and short-term equity, and long-only investment strategies.
Abax is a Cape Town-based investment manager specializing in South African equity, fixed income and strategic and tactical asset allocation strategies. As of September 30, 2015, Abax’s assets under manager were approximately $5.4 billion.
Systematica is a technology-driven investment firm with offices in Geneva, London, New York, Singapore and Jersey. As of October 1, 2015, Systematica managed approximately $8.8 billion in assets.
The transactions are all expected to close by December 31, 2015.
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