AMG to Invest in Parnassus


September 8, 2021

On July 6, 2021, Affiliated Managers Group, Inc. announced that it will acquire a majority equity interest in Parnassus Investments.

Pursuant to the terms of the agreement, Affiliated Managers Group, Inc. (“AMG”) will acquire a majority equity interest in Parnassus Investments (“Parnassus”).  Parnassus’s partners will continue to own a substantial portion of Parnassus’s equity and will continue to direct its day-to-day operations under AMG’s guidance. The transaction, subject to customary closing conditions and regulatory approvals, is expected to close during the second half of 2021. Further terms of the deal 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 March 31, 2021, AMG managed approximately $738 billion in assets.

Parnassus, based in San Francisco, California, is a fund manager dedicated to providing socially responsible investment opportunities by integrating environmental, social, and governance research into its investment calculus. As of June 30, 2021, Parnassus managed approximately $47 billion in assets.

To read the press release: please click here.

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