Turning to new investments. We're very pleased to have recently announced investments in 2 new Affiliates which are industry leaders in their respective areas. Yacktman Asset Management is an outstanding concentrated value equity manager with a tremendous long-term record of investment performance and industry accolades, having been named Morningstar Managers of the Year and nominated as Manager of the Decade. Don Yacktman, Stephen Yacktman and Jason Subotky are outstanding investors and have built a great business, and we're excited to welcome the team to our Affiliate group.
In addition, with our investment in Veritable, which is one of the nation's premier independent wealth managers, we successfully launched our wealth management business, AMG Wealth Partners, which extends AMG's proven partnership approach and succession planning solutions to outstanding wealth management firms. Partnering with a firm of Veritable's caliber is a key foundational step for our wealth management strategy, which is, of course, completely incremental to our opportunity to invest in additional boutique asset management firms.
Finally, we continue to make progress across a broad range of new investment opportunities. In addition to ongoing divestiture activity from corporate sellers, we also believe that demographic trends, coupled with the prospect of rising tax rates, will result in increasing transaction activity among independent firms through the balance of 2012 and beyond.
We believe that AMG is positioned as the partner of choice for outstanding boutique asset management and wealth management firms worldwide, and we're confident in our ability to materially enhance our earnings growth through accretive investments and additional Affiliates.With that, let me turn it to Nate who will discuss our Affiliates results in greater detail. Read the rest of this transcript for free on seekingalpha.com
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