Posted by: Veritas Asset Management
Veritas Asset Management partners with Affiliated Managers Group
Posted by: Veritas Asset Management
Veritas has entered into partnership with Affiliated Managers Group, Inc (AMG), a global asset management company with equity investments in leading boutique investment management firms. This was signed on 28th April 2014 and completed on 31st October 2014.
Veritas will continue to have the same Managing Partners and Board; full investment autonomy; day-to-day operational independence and receive the majority of the revenue and economics of the firm. The Managing Partners of Veritas will continue to hold a substantial portion of the equity of the business and direct its day-to-day operations. The Veritas senior professionals have also agreed to long-term commitments with the firm.
Charles Richardson, Chairman and Fund Manager of Veritas Asset Management commented:
"AMG’s unique partnership approach preserves our operational autonomy and investment independence, whilst enhancing our ability to serve our clients and ensuring the longevity and stability of our firm. We believe AMG is the ideal partner for Veritas given their understanding of, and appreciation for, the essential elements for the long-term success of investment management boutiques."
Sean M. Healey, Chairman and Chief Executive Officer of AMG commented:
"We are very pleased to partner with Veritas Asset Management, one of the industry’s most highly regarded global equity managers. We have tremendous respect for the experience and talent of the management team at Veritas, and believe the firm is well-positioned for additional growth and continued success. We look forward to working with our new partners on a variety of initiatives to enhance the firm’s forward growth and development."
About Affiliated Managers Group
AMG is a global asset management company with equity investments in leading boutique investment management firms. AMG’s innovative partnership approach allows each Affiliate’s management team to own significant equity in their firm while maintaining operational autonomy. AMG’s strategy is to generate growth through the internal growth of existing Affiliates, as well as through investments in new Affiliates. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development and operations. As of March 31, 2014, the aggregate assets under management of AMG’s Affiliates were approximately $594 billion, pro forma for pending investments, in more than 400 investment products across a broad range of investment styles, asset classes and distribution channels. For more information, please visit the Company’s website at www.amg.com
October 2014
Posted by: Veritas Asset Management