Affiliated Managers Group purchases Artemis Investment Management

February 12th, 2010
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On February 1st, Affiliated Managers Group, Inc. (NYSE: AMG) and Artemis Investment Management’s management team announced that they were acquiring 100% of Artemis from BNP Paribas Group (EPA: BNP). Artemis, which specializes in active investment management for retail and institutional investors, currently manages approximately $16 billion in assets under management across a range of mutual funds and segregated accounts.

In a press release, Sean Healey, President and CEO of Affiliated Managers Group, and Mark Tyndall, co-founder and CEO of Artemis Investment Management, recognize the advantages of the transaction in that both parties will be positioned to achieve their individual growth goals.

AMG’s Healey was impressed with Artemis’s “astounding array of investment products with strong long-term performance records.” Once the transaction is closed, AMG will own a majority equity interest in Artemis. Mr. Healey believes the purchase will “enhance AMG’s international product set” as well as expand their client base in “desirable and fast growing markets.”

The management team at Artemis Investment Management will continue to direct the daily operations of the firm and also acquire a substantial equity ownership post-transaction. Mr. Tyndall believes that by partnering up with AMG under these premises, the “core elements of [their] business” will be preserved. Artemis’s reputable investment team features, Adrian Frost, a highly respected UK fund manager, and a range of other highly regarded portfolio managers.

AMG, a global asset management company with equity investments in boutique investment management firms (its “Affiliates”), boasts a partnership strategy based around growth generated internally by its existing Affiliates, and externally through investments in new Affiliates. The transaction between Affiliated Managers Group and BNP Paribas is set to close at the beginning of the second quarter of 2010.
Related Article Tags: Investment Management, Fund Manager and General Financial News; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions

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