AMG Acquires Interest in Dublin Fund Distributors.Business Editors BOSTON--(BUSINESS WIRE)--March 29, 2001 Affiliated Managers Group, Inc. (NYSE NYSE See: New York Stock Exchange : AMG AMG All Music Guide (music website) AMG All Media Guide (group of media websites) AMG All Movie Guide (Movie website) AMG Arzneimittelgesetz (German Law) ), a Boston-based asset management holding company, announced today it has purchased a significant minority interest in Dublin Funds Distributors, N.V., the parent company of Edgehill Select Group, L.L.C. and Edgehill Select Group, S.A.R.L. (together "Edgehill"). Edgehill, which is based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Paris, is the sponsor of an Irish-registered and listed Umbrella Trust of hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" for which it selects independent sub-managers. "AMG's strategic partnership with Dublin Funds Distributors provides an opportunity for us to help those of our Affiliates with appropriate products to expand their international hedge fund clientele," said Nate Dalton, head of Affiliate Development for AMG and a Senior Vice President. "Edgehill has proven access to institutions in the international marketplace, and several of our Affiliates have or are developing alternative investment products which we believe are attractive to these clients. In addition, we see a significant opportunity to work with Edgehill to develop and distribute multi-manager absolute return products in partnership with several of our Affiliates." "We are pleased to welcome AMG as a shareholder and board member of our company," said David Tucker, President of Edgehill. "We are particularly enthusiastic about the opportunity to bring some of AMG's excellent institutionally-oriented Affiliates into our distribution channels for the first time so that we may increase our offerings to pension funds, banks, insurance companies and funds of funds." AMG addresses the succession and transition issues facing the principals of growing mid-sized investment management firms. The Company's strategy is to generate growth through the internal growth of its existing Affiliates, as well as through investments in new Affiliates. AMG's innovative transaction structure allows individual members of each Affiliate's management to retain or receive significant direct ownership in their firm while maintaining operating autonomy. In addition, AMG provides centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. assistance to its Affiliates in strategic matters, marketing, distribution, product development, and operations. AMG holds interests in 15 investment management firms, which collectively managed $77 billion in assets at December 31, 2000. All data presented pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. is approximate and stated as of December 31, 2000. Certain matters discussed in this press release or in AMG's presentations may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay , competition for acquisitions of interest in investment management firms, 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999. For more information on Affiliated Managers Group, Inc., please visit AMG's Web site at www.amg.com. |
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