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Affiliated Managers (AMG) Buys Minority Stake in Jackson Square
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Affiliated Managers Group, Inc. (AMG - Free Report) , together with the management team of Jackson Square Partners LCC, has acquired a minority stake in the latter from Macquarie Investment Management. Notably, the partners of Jackson Square will continue to hold majority interest in the business. The terms of the deal have not been revealed.
Shares of Affiliated Managers rallied 2.2% during Monday's trading session, reflecting positive investor sentiment.
As of Sep 30, 2020, the San Francisco-based Jackson Square, founded in 2014, had about $24 billion discretionary and non-discretionary assets under administration. It primarily specializes in long-only, growth-oriented equity strategies.
Jeffrey S. Van Harte, chairman and chief investment officer of Jackson Square, said, "Throughout our multi-decade history as a team, we have believed strongly in the principles of independence and alignment through investing alongside clients. We hold AMG in the highest regard and have long viewed AMG as the partner of choice for independent firms like ours."
Jay C. Horgen, president and CEO of Affiliated Managers, noted, "With the firm’s investment-centric culture and focus on concentrated strategies, Jackson Square has strong forward growth prospects. AMG’s partnership approach continues to attract outstanding boutique firms that wish to build an enduring franchise, preserve their independence, and leverage AMG’s distribution capabilities around the world."
Affiliated Managers has a robust liquidity position. This gives the company considerable capability to invest in other firms. The firm remains well positioned for growth, based on successful partnerships and focus on strengthening its retail market operations.
In the past year, shares of Affiliated Managers have gained marginally compared with the 10.4% rally of the industry it belongs to.
Currently, Affiliated Managers carries a Zacks Rank #3 (Hold).
Stocks to Consider
Waddell & Reed Financial, Inc. witnessed an upward earnings estimate revision of 6.7% for 2020 over the past month. Its shares have lost 1.3% over the past year. At present, it sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AllianceBernstein Holding L.P. (AB - Free Report) has witnessed a marginal upward earnings estimate revisions for the current year over the past 30 days. This Zacks Rank #2 (Buy) stock has gained 9.4% over the past 12 months.
Artisan Partners Asset Management Inc. (APAM - Free Report) has recorded 1% upward earnings estimate revision for the ongoing year in the past 30 days. This Zacks Rank #2 stock has appreciated 50.9% over the past year.
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Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Affiliated Managers (AMG) Buys Minority Stake in Jackson Square
Affiliated Managers Group, Inc. (AMG - Free Report) , together with the management team of Jackson Square Partners LCC, has acquired a minority stake in the latter from Macquarie Investment Management. Notably, the partners of Jackson Square will continue to hold majority interest in the business. The terms of the deal have not been revealed.
Shares of Affiliated Managers rallied 2.2% during Monday's trading session, reflecting positive investor sentiment.
As of Sep 30, 2020, the San Francisco-based Jackson Square, founded in 2014, had about $24 billion discretionary and non-discretionary assets under administration. It primarily specializes in long-only, growth-oriented equity strategies.
Jeffrey S. Van Harte, chairman and chief investment officer of Jackson Square, said, "Throughout our multi-decade history as a team, we have believed strongly in the principles of independence and alignment through investing alongside clients. We hold AMG in the highest regard and have long viewed AMG as the partner of choice for independent firms like ours."
Jay C. Horgen, president and CEO of Affiliated Managers, noted, "With the firm’s investment-centric culture and focus on concentrated strategies, Jackson Square has strong forward growth prospects. AMG’s partnership approach continues to attract outstanding boutique firms that wish to build an enduring franchise, preserve their independence, and leverage AMG’s distribution capabilities around the world."
Affiliated Managers has a robust liquidity position. This gives the company considerable capability to invest in other firms. The firm remains well positioned for growth, based on successful partnerships and focus on strengthening its retail market operations.
In the past year, shares of Affiliated Managers have gained marginally compared with the 10.4% rally of the industry it belongs to.
Currently, Affiliated Managers carries a Zacks Rank #3 (Hold).
Stocks to Consider
Waddell & Reed Financial, Inc. witnessed an upward earnings estimate revision of 6.7% for 2020 over the past month. Its shares have lost 1.3% over the past year. At present, it sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AllianceBernstein Holding L.P. (AB - Free Report) has witnessed a marginal upward earnings estimate revisions for the current year over the past 30 days. This Zacks Rank #2 (Buy) stock has gained 9.4% over the past 12 months.
Artisan Partners Asset Management Inc. (APAM - Free Report) has recorded 1% upward earnings estimate revision for the ongoing year in the past 30 days. This Zacks Rank #2 stock has appreciated 50.9% over the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>