View more on these topics

AMG buys private equity FoF firm Pantheon

US-based Affiliated Managers Group is to buy private equity find of funds manager Pantheon from Russell Investments in a $775m deal.

Under the terms of the deal, Russell Investments may also receive additional payments from AMG over the next five years, depending on the growth of Pantheon’s business.

Pantheon’s management team will own a substantial stake in the business and will continue running the business on a day-to-day basis.

The deal will be funded through a combination of AMG’s available cash and its existing credit facility.

AMG chief executive officer Sean Healey says:  “We view the fund-of funds structure as an especially attractive way to participate in this important asset class, given the stability and consistency of its revenue stream, as well as the scalability of its investment platform.”

Pantheon managing partner Alastair Bruce says: “We are enthusiastic about our partnership with AMG. Pantheon operates with a distinct and highly collaborative culture, and it is of paramount importance that our new partner provides operational autonomy and a stable ownership model through long-term commitments and partnership equity incentives.”

Recommended

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com