# Affiliated Managers Group

Affiliated Managers Group is an Asset Manager based in West Palm Beach, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** West Palm Beach, United States
- **Region:** North America
- **Address:** West Palm Beach, FL, United States
- **Founded:** 1993
- **Assets under management:** $650B - $700B (Altss estimate)
- **Website:** amg.com
- **LinkedIn:** https://www.linkedin.com/company/affiliated-managers-group-inc-/

## Regulatory record

- **Reports private funds:** No

## About

Affiliated Managers Group (NYSE: AMG) is a global asset management company with equity investments in boutique firms. It provides strategic partnerships, growth capital, and distribution to these firms, allowing them to maintain autonomy. Founded in 1993 in West Palm Beach, Florida, AMG has made 24 investments and 2 portfolio exits.

## Sectors

- Private Markets
- Hedge Funds
- Liquid Alternatives
- Global Equities
- Fixed Income

## Offices

- London
- Hong Kong
- Sydney
- Dubai
- Boston

## People

- Jay C. Horgen — President and Chief Executive Officer
- Thomas M. Wojcik — Chief Financial Officer
- Dwight D. Churchill — Chairman of the Board

## Questions

### How does AMG's affiliate model differ from traditional asset management consolidation?

AMG acquires majority equity stakes in boutique managers but leaves the affiliate's brand, investment autonomy, compensation design, and client relationships intact. The central holding company provides institutional distribution, balance-sheet capital, and operational support without integrating affiliates into a single platform. This contrasts with roll-up acquirers that rebrand and consolidate firms to extract cost synergies.

### How is AMG's revenue model structured given its ownership of multiple managers?

AMG earns management fees, performance fees, and carried interest through its controlling or significant minority stakes in each affiliate. Revenue streams vary by affiliate mix: liquid alternatives and equities generate primarily management fees, while private markets affiliates contribute performance fees and carry, which are lumpier but higher-margin.

### What is AMG's posture on holding affiliates permanently versus selling them?

AMG historically retains affiliates indefinitely, viewing them as durable cash-flow generators rather than assets to be flipped. The steady compounding of fee streams and carried interest realization aligns with a permanent-ownership philosophy, though the firm has occasionally sold minority stakes back to affiliate management teams as part of succession planning.

### Which sectors or strategies does AMG explicitly avoid?

AMG does not publicly publish an avoidance list, but the firm has meaningfully reduced exposure to traditional long-only equity managers over the past decade and tilted heavily toward alternatives — particularly private equity, credit, and infrastructure strategies. Commodities-focused managers and retail fund platforms have not been a priority within the disclosed affiliate roster.

### Who founded AMG and when was the holding-company structure adopted?

William Nutt founded AMG in 1993 with the explicit purpose of acquiring interests in quality asset management firms without disrupting their cultures. The holding-company structure was present from inception, and the firm went public in 1997 with the same multi-affiliate model it uses today.

## Related profiles

- [Beamtenversicherungskasse des Kantons Zürich](https://altss.com/profile/beamtenversicherungskasse-des-kantons-zurich)
- [Caixagest](https://altss.com/profile/caixagest)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/affiliated-managers-group

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