Affiliated Managers Group, Inc.
A global asset management company that buys stakes in independent boutique investment firms — its "Affiliates" — while letting them keep running their own investment decisions and culture. Founded in Boston in 1993 by William J. Nutt, a former Boston Company Asset Management CEO, with backing from private equity firm TA Associates, the name reflects its model of "affiliating" with firms rather than absorbing them. Its partners have included AQR Capital Management, and it went public on the New York Stock Exchange in 1997.
10-Q · Quarter ended Jun 30, 2026 · SEC filing ↗
AMG's — the broadest measure of its Affiliates' — rose 50% to $1.9 billion, the second consecutive quarter at that level. Revenue rose 30% to $640.7 million and more than doubled to $6.95, driven by a 24% increase in to $882 billion and the contribution of new Affiliates including BBH Credit Partners and HighBrook. The company is now operating at a scale well above its 2024 baseline, but has risen to $3.0 billion and cash reserves are thin at $411 million.
The Company states it is subject to ordinary course claims and proceedings but discloses no material pending legal matters.