Darrell W. Crate
, executive vice president and chief financial officer of the Affiliated Managers Group
, spoke about the company's pipeline on Monday at the 2004 Lehman Brothers Financial Services Conference
in New York City.
Crate says the time is ripe for new investments.
"There are about 2,000 firms between $500 million and $15 billion in assets under management," he says. "What we're doing is culling that group, looking for those that provide the strongest growth, the best growth opportunities and have outstanding management teams. Out of that 2000, we've been in the offices of just over 700 firms. Out of that 700, we've identified 150 that are really considered our top prospects. Out of that 150, there are probably 10 to 15 that we're in the active cultivation process with."
"Obviously we've been through a very difficult period in the equity markets, but we feel that we've gotten through that period very well," Crate says.
"We are very pleased with where our pipeline stands today," he adds.
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