Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, and EIG Global Energy Partners, LLC (“EIG”) announced today that AMG is acquiring an equity interest in EIG. EIG’s management team continues to hold a majority of the equity in the company, and consistent with AMG’s partnership approach, will retain operating autonomy of the business.
EIG also announced today that William C. Sonneborn has been appointed President of EIG effective May 5, 2014.
EIG is a leading global alternative investment firm specializing in private investments in energy and energy-related infrastructure, with the longest continuous track record of any institutional investor in the industry. Since its founding in 1982, EIG has made nearly 300 portfolio investments in 34 countries on six continents, across the full spectrum of the energy sector. Headquartered in Washington, D.C., with offices in Houston, Hong Kong, London, Rio de Janeiro, Sydney and Seoul, EIG employs a disciplined long-term approach built on a deep technical understanding of the sector, and is recognized as an industry leader in providing innovative capital solutions to leading companies and projects in the energy sector. As of December 31, 2013, the firm had $15.9 billion in assets under management.
EIG has consistently delivered strong risk-adjusted returns through multiple commodity and business cycles, and invests on a global basis across the entire energy value chain, including upstream, midstream, energy-related infrastructure, power generation, renewables and resources. The firm’s diversified client base includes over 400 leading institutional investors from 20 countries, including prominent pension plans, insurance companies, endowments, foundations and sovereign wealth funds.
“With an outstanding long-term investment track record, and unmatched expertise in investing in energy and commodity markets, EIG is regarded as among the preeminent investors in the sector by sophisticated institutions and industry participants around the world,” said Sean M. Healey, Chairman and Chief Executive Officer of AMG. “Given EIG’s exceptional reputation and competitive position, we believe the firm is uniquely placed
to capitalize on the increasing investment opportunities in the energy sector and generate strong organic growth, as global clients continue to seek attractive risk-adjusted ways to deploy capital in this area. Through our partnership with EIG, AMG is adding a new range of excellent strategies to our growing and diverse alternative product set. I am very pleased to welcome Blair Thomas and his partners to our Affiliate group.”
“With its unparalleled track record as a partner to leading boutique alternative firms, including a broad range of strategic capabilities through which AMG leverages its global scale on behalf of its Affiliates, AMG is the ideal permanent partner for EIG as we move into our next phase of growth and development,” said R. Blair Thomas, Chief Executive Officer of EIG. “At EIG, we have employed a very focused and disciplined investment approach for more than 30 years, and our partnership with AMG will allow us to maintain both our operating culture and investment decision-making autonomy to best serve our global client base. We are also extremely pleased to have Bill Sonneborn join our firm as President. Bill is uniquely qualified to help guide EIG through the next stage of our growth based on his prior industry experience and his familiarity with EIG from our time together at TCW.”