Affiliated Managers Group Inc. has reached an agreement to take a majority equity interest in Artemis Investment Management from Fortis Bank.
Affiliated Managers Group Inc. (“AMG”) and the management team of Artemis Investment Management Ltd. (“Artemis”) have agreed to purchase 100% of the equity interest in Artemis currently owned by Fortis Bank S.A./N.V., a subsidiary of BNP Paribas Group. Under the terms of the deal, AMG will obtain a majority equity stake and Artemis’ management team will acquire substantial ownership and continue the day-to-day operations of the firm.
Artemis manages approximately ₤10 billion ($16 billion) in assets in a variety of equity mutual funds and segregated institutional accounts, and will be added to the approximately $231 billion under management of AMG and its affiliates.
AMG, a global asset management company, invests in leading boutique investment management firms, allowing the management teams of each affiliate to own significant equity while maintaining operational autonomy.
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