Affiliated Managers Group Inc. [AMG] announced Monday it bought a stake in a London fund manager as the Boston company continues to look to expand internationally.
AMG, which owns a stake in Third Avenue Management, hedge fund firm AQR Capital Management and others, announced it was buying Artemis, a London fund manager, from BNP Paribas’ Fortis Bank. The deal, which is expected to close at the beginning of the second quarter, will leave AMG with a majority stake in Artemis, with the fund manager's management team taking an equity ownership stake. The price was not disclosed.
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