This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

AMG Announces Investment In River Road Asset Management

Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, has reached a definitive agreement with Aviva Investors North America Holdings, Inc. (a subsidiary of Aviva plc) (“Aviva”), for AMG to acquire all of Aviva’s equity interest in River Road Asset Management, LLC (“River Road”).

With approximately $11 billion in assets under management, River Road is based in Louisville, Kentucky, and offers industry-leading value-oriented equity strategies using a proven “absolute value” investment philosophy designed to provide sustainable, low-volatility returns over the long term. Over the past 16 years, the team at River Road, which includes 16 investment professionals, has developed innovative strategies which appeal to a broad and diverse institutional and retail client base, including mutual funds, endowments, foundations, retirement plan sponsors, corporations and sovereign wealth funds located around the world.

River Road has a longstanding relationship with a part of the AMG Funds business, Aston Asset Management, LP, and will continue to serve as sub-advisor for six mutual funds in the Aston Funds family. AMG Funds, AMG’s U.S. retail platform, has approximately $80 billion in assets under management and administration.

Following the closing of the transaction, River Road’s management team will own a substantial portion of the equity of the business and continue to direct the firm’s day-to-day operations.

“We have long appreciated River Road’s strong fundamental approach to investing and outstanding track record of generating excellent performance for investors on a global basis,” said Sean M. Healey, Chairman and Chief Executive Officer of AMG. “River Road has a tremendous history of developing innovative products to meet the dynamic needs of its client base, including in areas increasingly attractive to global investors, such as low-volatility income-oriented strategies. We are very pleased to welcome River Road to our Affiliate group, and look forward to working closely with the team.”

“Our partnership with AMG provides a permanent ownership model with direct equity incentives and long-term commitments, and, at the same time, enables us to continue to operate independently,” said R. Andrew Beck, President, Chief Executive Officer and Senior Portfolio Manager of River Road. “The preservation of our firm’s entrepreneurial culture, and operational and investment autonomy, is very important to our clients and employees, and AMG’s unique model is the ideal solution for River Road. Partnering with AMG also provides access to the breadth and resources of a leading global asset management company, and we are excited to work with our new partners across a number of strategic initiatives, including product distribution globally.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs