Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Will a Multiboutique Sell This $19B Shop? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 07, 2019

Will a Multiboutique Sell This $19B Shop?

News summary by MFWire's editors

A multiboutique asset manager with $772.2 billion in AUM (as of June 30) may soon break up with one of its affiliates.

Jay C. Horgen
Affiliated Managers Group
President, CEO
Jay Horgen and his team at West palm Beach, Florida-based Affiliated Managers Group (AMG [profile]) are looking into selling AMG's majority stake in BlueMountain Capital Management, Bloomberg reports. BlueMountain, a hedge fund shop, has $19 billion in AUM, more than 150 employees, and offices in New York City and London.

The AMG team has publicly acknowledged that BlueMountain is having a tough 2019. For Q1 2019, AMG reported a $415-million writedown of the value of AMG's stake in BlueMountain. Nate Dalton, then-CEO of AMG, called BlueMountain's Q1 "really challenging." (Horgen has since taken over as AMG's CEO.)

"We continue to work with BlueMountain in repositioning the business towards profitability," Horgen told analysts last week on AMG's Q2 earnings call. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use