MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, June 17, 2013 AMG Gives Another Boutique its Freedom Sometimes, you have to let the chicks out of the nest. MFWire just reported in its Stork & Reaper section that Affiliated Managers Group [profile] has entered into a definitive transfer agreement with Friess Associates [profile] in which AMG will transfer its indirect majority ownership interest in the Friess Companies to Friess' management team. According to the SEC filing, "upon closing, the Friess Transaction will ensure the Friess Companies’ continuing operational autonomy going forward; and preserve the Friess Companies’ independent character, including their focus on the interests of their clients. Friess manages the Brandywine funds, which as a result of the transaction, will be reorganized into series of the Managers Trust I fund. The boutique was founded by Foster Friess, who funds a variety of conservative causes. This is not the first time that an AMG boutique has left the nest. Back in October 2012, MFWire reported on another AMG boutique that gained its freedom, Essex Investment Management Company. Essex bought back a 51 percent stake from AMG to achieve 100 percent ownership. Printed from: MFWire.com/story.asp?s=44344 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |