AMG to Own a Majority of SouthernSun Asset Management

December 23, 2013

On December 19, 2013, Affiliated Managers Group, Inc. (NYSE: AMG) announced that it has agreed to acquire a majority stake in SouthernSun Asset Management, LLC.

On December 19, 2013, Affiliated Managers Group, Inc. (NYSE: AMG) announced that it has agreed to acquire a majority stake in SouthernSun Asset Management, LLC.  SouthernSun’s partners will continue to hold a substantial portion of the equity of the business and manage its day-to-day operations.  SouthernSun, which has approximately $5 billion in assets under management, manages long-term, concentrated portfolios and offers small- and mid-cap strategies as well as a global investment strategy.  As part of the transaction, the SouthernSun funds will become part of the AMG mutual fund platform and its senior professionals have agreed to long term commitments with the firm.  AMG is a global asset management company with approximately $513 billion in assets under management.  Terms of the transaction were not disclosed.

For the press release, please click here.


Categories

Investment Manager M&A, Transactions