Affiliated Managers Group, Inc. announced on April 29, 2014 that it had agreed to acquire a majority equity interest in investment manager Veritas Asset Management LLP.
On April 29, 2014, Affiliated Managers Group, Inc., a global asset management company, announced that it had entered into a definitive agreement to acquire a majority equity interest in Veritas Asset Management LLP, an independent global and Asian equity manager with offices in London and New York. Veritas has approximately £10 billion ($17 billion) in assets under management across both funds and segregated portfolios for institutional and retail investors in the United Kingdom and around the world. After the closing of the transaction, the management partners of Veritas will continue to hold a substantial portion of the equity of the business and direct its day-to-day operations. Financial terms of the transaction were not disclosed.
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