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Rating:Healey Shells Out $800MM to Buy Into Five More Alts Shops Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, June 6, 2016

Healey Shells Out $800MM to Buy Into Five More Alts Shops

Reported by Neil Anderson, Managing Editor

Sean Healey is preparing to shell out $800 million for stakes in five more alternative asset managers.

Sean Healey
Chairman, Chief Executive Officer
This morning Healey, chairman and CEO of Affiliated Managers Group (AMG), unveils a deal to buy minority stakes in CapeView Capital, Capula Investment Management, Mount Lucas Management, Partner Fund Management, and Winton Capital Group. The seller is Goldman Sachs Asset Management's Petershill Fund I, and the deal will leave senior management at each of the five boutiques holding majority stakes in their respective shops.

The Financial Times, Reuters, and the Wall Street Journal all reported on the news.

About half of the deal is expected to close in Q3, and the other half is expected to close by the end of the year. AMG has not revealed the size of the minority stakes it will take in the five target shops.

London-based CapeView offers a credit and distressed fund and a long/short equity fund, both Europe-focused. The shop launched in 2001 and now has about $1.7 billion in AUM and 27 employees.

London-based Capula is a global fixed income shop. The shop dates back to 2005 and has about $12.7 billion in AUM.

Newtown, Pennsylvania-based Mount Lucas launched in 1986 and now has more than 20 employees and about $1.7 billion in AUM. It offers futures, equity, and global macro strategies.

San Francisco-based Partner launched in 2004 and now has 69 employees and about $4.3 billion in AUM. Its a global equity investing shop.

London-based Winton started in 1997 and now has more than 400 employees and about $34.5 billion in AUM. AMG describes Winton as "a global investment manager that utilizes scientific methods to develop investment systems across a broad range of products from diversified multi-asset offerings to regional long-only equities."

The deal would push AMG's AUM to nearly $700 billion. 

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