It may be the calm in the middle of the annual August doldrums, but that is not stopping merger speculation about Friess Associates, sponsor of the Brandywine Funds. Specifically, Affiliated Managers Group is said to be in talks to acquire Friess.

The rumor, which neither firm has commented on either way, was initially run in Institutional Investor Newsletters's Money Management Letter. It has since been picked up by CBS.MarketWatch.

Fueling the speculation is Friess' hiring of Goldman Sachs earlier this year to find a buyer for the firm.

Greenville, Delaware-based Friess manages some $7 billion in assets and is co-owned by Foster and Lynette Friess (they are husband and wife). Nearly $6 billion of the firm's assets are in the Brandywine Fund.

Foster Friess is reportedly shopping for a buyer that will allow him to retain a stake and role in the firm after the sale. 

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