Company: MGRE
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050206
Chunk: 7

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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Company,” and similar references refer to 

Affiliated Managers Group, Inc., unless otherwise stated or the context otherwise requires.

Executive Overview

AMG is a strategic partner to leading independent investment firms globally.  Our strategy is to generate long-term value 

by investing in high-quality independent partner-owned firms, which we refer to as “Affiliates,” through a proven partnership 

approach, and allocating resources across our unique opportunity set to the areas of highest growth and return.  With their 

entrepreneurial, investment-centric cultures and alignment of interests with clients through direct equity ownership by firm 

principals, independent firms have fundamental competitive advantages in offering unique return streams to the marketplace.  

Through AMG’s distinctive approach, we enhance these advantages to magnify the long-term success of our Affiliates and 

actively support their independence.  Our innovative model enables each Affiliate’s management team to retain autonomy 

and significant equity ownership in their firm, while they leverage our strategic capabilities and insight, including growth 

capital, product strategy and development, capital formation, and incentive alignment and succession planning.  As of 

September 30, 2025, our aggregate assets under management were approximately $804 billion across a diverse range of 

private markets, liquid alternative, and differentiated long-only investment strategies.

In the first quarter of 2025, we completed our minority investment in NorthBridge Partners, LLC (“NorthBridge”), a 

private markets manager specializing in industrial logistics real estate assets, and in the second quarter of 2025, we completed 

our minority investment in Verition Fund Management LLC (“Verition”), a global multi-strategy investment firm.  Following 

the close of these transactions, Affiliate management continues to hold a significant majority of the equity of the respective 

businesses and directs the day-to-day operations.

In the second quarter of 2025, we entered into an agreement to acquire a minority equity interest in Qualitas Energy, a 

renewables-focused global infrastructure manager specializing in energy transition.  Following the close of the transaction, 

Qualitas Energy partners will continue to hold a majority of the equity of the business and direct its day-to-day operations.  

The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions.  The financial 

results will be recognized in the Consolidated Financial Statements one quarter in arrears.

In July 2025, we completed the previously announced sale of our minority equity interest in Peppertree Capital 

Management, Inc. (“