Affiliated Managers Group, Inc. (NYSE: AMG), a diversified asset
management company, announced the completion of its investment in
Gannett Welsh & Kotler, LLC (“GW&K”).
AMG, in partnership with GW&K’s management
team, acquired the firm from The Bank of New York Mellon (NYSE: BK).
GW&K, a highly regarded Boston-based manager of municipal bond, taxable
bond and equity investments, manages more than $7 billion. The firm has
a long history of successfully managing fixed income and equity
investment strategies that balance long-term growth of capital with
prudent risk management. GW&K offers highly personalized investment
services in three principal investment strategies: intermediate duration
municipal bonds; multi-cap and small-cap equities; and core taxable
fixed income investments. In addition to separately managed accounts,
GW&K manages two mutual funds for retail investors who wish to benefit
from the firm’s depth of research and
investment expertise.
As part of the transaction, AMG purchased the entire ownership interest
in GW&K from The Bank of New York Mellon. A broad group of GW&K
professionals hold an equity interest in the firm and have entered into
long-term employment agreements with the firm and AMG.
About Affiliated Managers Group
Affiliated Managers Group is a diversified asset management company with
approximately $254 billion in assets at June 30, 2008 (pro forma for
pending investments). AMG’s strategy is to
generate growth through the internal growth of its existing Affiliates,
as well as through investments in new Affiliates. Through AMG’s
innovative partnership approach, individual members of each Affiliate’s
management team retain or receive significant direct equity ownership in
their firm while maintaining operating autonomy. AMG provides
centralized assistance to its Affiliates in strategic matters,
marketing, distribution, product development and operations.
AMG routinely posts information that may be important to investors in
the Investor Relations section of its Web site. The Company encourages
investors to consult that section of its Web site regularly for
important information about AMG. For more information, please visit the
Company’s Web site at www.amg.com.
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities
laws. Actual results and the timing of certain events could
differ materially from those projected in or contemplated by the
forward-looking statements due to a number of factors, including changes
in the securities or financial markets or in general economic
conditions, the availability of equity and debt financing, competition
for acquisitions of interests in investment management firms, our
ability to complete pending acquisitions, the investment performance of
our Affiliates and their ability to effectively market their investment
strategies, and other risks detailed from time to time in AMG’s
filings with the Securities and Exchange Commission. Reference is
hereby made to the “Cautionary Statements”
set forth in the Company’s Form 10-K for the
year ended December 31, 2007.
Brett S. Perryman
Laura O’Brien
Affiliated
Managers Group, Inc.
(617) 747-3300
pr@amg.com
