# AFFILIATED MANAGERS GROUP, INC.

Summary updated: 2026-10-03T21:44:28.907059Z
Canonical: https://finbar.com/research/companies/affiliated-managers-group-inc

## Overview

Affiliated Managers Group, Inc. (AMG) is a global asset-management company that partners with independent investment firms, investing in them and supporting their growth while maintaining their independence. Its affiliates manage strategies spanning private markets, liquid alternatives, equities, fixed income and multi-asset investments. [1](https://www.amg.com/about-amg/)[2](https://www.amg.com/products/)

AMG connects institutional investors with affiliates across Asia, Europe, the Middle East and North America, and also has a U.S. wealth platform for financial advisers and their clients. Its stated purpose is to magnify the success of independent firms around the world. [3](https://www.amg.com/about-amg/global-institutional-platform/)[4](https://wealth.amg.com/)[5](https://www.amg.com/)

AMG was founded in Boston in 1993. Its FY2025 consolidated revenue was approximately $2.07 billion, and assets under management totaled $942.4 billion as of June 30, 2026. [1](https://www.amg.com/about-amg/)[6](https://app.finbar.com/go?id=T759097)[7](https://app.finbar.com/go?id=T17859569)
[6](https://app.finbar.com/go?id=T759097)[7](https://app.finbar.com/go?id=T17859569)[1](https://www.amg.com/about-amg/)[2](https://www.amg.com/products/)[3](https://www.amg.com/about-amg/global-institutional-platform/)[4](https://wealth.amg.com/)[5](https://www.amg.com/)

## Products & services

Affiliated Managers Group’s affiliates offer investment strategies across private markets, liquid alternatives, equities, and multi-asset and fixed income. Private-market strategies use sector, regional, and market-specific expertise to pursue long-term value creation; AMG reported approximately $146 billion of private-markets assets under management at year-end 2025 [8](https://app.finbar.com/go?id=P91653701)[9](https://app.finbar.com/go?id=P60780325). Liquid-alternative offerings include multi-strategy, global macro, relative-value fixed income, and trend-following approaches, spanning beta-sensitive and absolute-return strategies; some are designed to have low or no correlation with broader markets or to address volatility and drawdowns [10](https://app.finbar.com/go?id=P90550208)[11](https://app.finbar.com/go?id=P65499314).

Affiliates also offer traditional equity and fixed-income strategies through mutual funds, ETFs, separately managed accounts, and UCITS. Wealth-management offerings include multi-asset portfolios, customized investment management and counseling, and fiduciary services for individuals, families, and institutions [12](https://app.finbar.com/go?id=P101934285)[13](https://app.finbar.com/go?id=P59671312)[14](https://app.finbar.com/go?id=P110840307)[15](https://app.finbar.com/go?id=P14030031). Examples in AMG’s selected-strategies listing include AQR Managed Futures Strategy, AQR Global Risk Premium, Comvest Debt, EIG Global Private Debt, Pantheon Global Infrastructure, Harding Loevner Global and International Equity, Tweedy, Browne Global Value and International Equity, Artemis Strategic Bond, and AQR Global Government Bond [2](https://www.amg.com/products/).

Specific fund examples include Veritas Global Focus Fund, which targets long-term capital appreciation through a focused global-equity portfolio of 25–40 companies [16](https://wealth.amg.com/products/veritas-global-focus-fund-mfqtx/); BBH Asset-Backed Credit Fund, which seeks current income and capital appreciation primarily through asset-backed and other structured-credit investments [17](https://wealth.amg.com/products/amg-bbh-asset-backed-credit-fund/); and GW&K Municipal Bond Fund, which seeks federally tax-exempt current income and capital preservation primarily through high-quality municipal bonds [18](https://wealth.amg.com/products/gwk-municipal-bond-fund-gwmtx/). AMG also provides affiliates with growth capital, strategy and product development and seeding, and distribution support; its U.S. wealth platform offers product-development, lifecycle-operations, sales, relationship, and marketing support [19](https://app.finbar.com/go?id=P69807581)[20](https://app.finbar.com/go?id=P88311262).
[8](https://app.finbar.com/go?id=P91653701)[9](https://app.finbar.com/go?id=P60780325)[10](https://app.finbar.com/go?id=P90550208)[11](https://app.finbar.com/go?id=P65499314)[12](https://app.finbar.com/go?id=P101934285)[13](https://app.finbar.com/go?id=P59671312)[14](https://app.finbar.com/go?id=P110840307)[15](https://app.finbar.com/go?id=P14030031)[19](https://app.finbar.com/go?id=P69807581)[20](https://app.finbar.com/go?id=P88311262)[2](https://www.amg.com/products/)[16](https://wealth.amg.com/products/veritas-global-focus-fund-mfqtx/)[17](https://wealth.amg.com/products/amg-bbh-asset-backed-credit-fund/)[18](https://wealth.amg.com/products/gwk-municipal-bond-fund-gwmtx/)

## Geographic presence

In FY2025, Affiliated Managers Group reported revenue of $1,486.9 million from the United States (71.7% of total), $527.0 million from the United Kingdom (25.4%), and $60.5 million from Other geographies (2.9%). Percentages are calculated from reported total revenue of $2,074.4 million. [21](https://www.sec.gov/Archives/edgar/data/1004434/000162828026008665/amg-20251231.htm)

AMG describes its institutional-platform coverage as spanning Asia, Europe, the Middle East and North America. Its stated regional locations include Tokyo for its Asia team and Dubai for its Middle East team; the company also identifies Korea and Singapore among its Asian markets. AMG lists offices in London, Dubai and Tokyo, and its legal disclosures identify a London registered office and a Dubai branch. [3](https://www.amg.com/about-amg/global-institutional-platform/) [1](https://www.amg.com/about-amg/) [22](https://www.amg.com/legal-and-regulatory/)

At December 31, 2025, AMG and its Affiliates had approximately 5,600 employees, but the company’s disclosure does not provide a geographic breakdown of employees. [21](https://www.sec.gov/Archives/edgar/data/1004434/000162828026008665/amg-20251231.htm)
[21](https://www.sec.gov/Archives/edgar/data/1004434/000162828026008665/amg-20251231.htm)[3](https://www.amg.com/about-amg/global-institutional-platform/)[1](https://www.amg.com/about-amg/)[22](https://www.amg.com/legal-and-regulatory/)

## Business segments

Affiliated Managers Group reports one operating and reportable segment, rather than separate reportable segments for its investment strategies. Its disclosed strategy categories therefore describe the composition of assets under management (AUM), not segment-level revenue or earnings contributions. [23](https://app.finbar.com/go?id=P26917298)[24](https://app.finbar.com/go?id=P35444432)[25](https://app.finbar.com/go?id=P94712172)[26](https://app.finbar.com/go?id=P111490415)

At June 30, 2026, AMG reported $942.4 billion of AUM across four strategy categories: Alternatives—Private Markets, $153.3 billion (about 16.3%); Alternatives—Liquid Alternatives, $293.2 billion (31.1%); Differentiated Long-Only—Equities, $321.9 billion (34.2%); and Differentiated Long-Only—Multi-Asset & Fixed Income, $174.0 billion (18.5%). These approximate percentages are calculated as each category’s share of total AUM, not as shares of revenue or earnings. [27](https://app.finbar.com/go?id=T9514340)
[23](https://app.finbar.com/go?id=P26917298)[24](https://app.finbar.com/go?id=P35444432)[25](https://app.finbar.com/go?id=P94712172)[26](https://app.finbar.com/go?id=P111490415)[27](https://app.finbar.com/go?id=T9514340)

## Company history

Affiliated Managers Group (AMG) was founded in Boston in December 1993 by William J. Nutt, with Sean M. Healey joining as a founding principal in 1995. Its approach centered on investing in independent investment firms while retaining their leaders and operating autonomy. [1](https://www.amg.com/about-amg/)[28](https://app.finbar.com/go?id=P75383184)[29](https://app.finbar.com/go?id=P44516298) In 1997, AMG completed an investment in Tweedy, Browne and went public on the New York Stock Exchange. [30](https://ir.amg.com/news-releases/news-release-details/affiliated-managers-group-inc-completes-its-transaction-tweedy)[31](https://ir.amg.com/news-releases/news-release-details/amgs-william-nutt-receives-ernest-young-award-1998-new-england)

AMG expanded its platform in 1999 by acquiring The Managers Funds, adding a centralized mutual-fund capability for its affiliated firms. [32](https://ir.amg.com/news-releases/news-release-details/amg-reports-financial-and-operating-results-first-quarter-1999)[33](https://ir.amg.com/news-releases/news-release-details/amg-reports-financial-and-operating-results-third-quarter-and) It broadened into alternative investments through its 2004 investment in AQR and expanded into global private markets with its 2010 investment in Pantheon. [34](https://www.sec.gov/Archives/edgar/data/1004434/000110465904037480/a04-13875_1ex99d2.htm)[35](https://www.sec.gov/Archives/edgar/data/1004434/000104746910000957/a2196550zex-99_1.htm)

Healey succeeded Nutt as CEO in 2005. In 2018, Nathaniel Dalton succeeded Healey, following roles as AMG’s chief operating officer and president. [1](https://www.amg.com/about-amg/)[36](https://ir.amg.com/news-releases/news-release-details/amg-announces-nathaniel-dalton-succeeds-sean-m-healey-ceo-0) AMG later expanded its international portfolio with an investment in South Africa-based Abax in 2015 and a minority investment in Asia-focused Baring Private Equity Asia in 2016. It agreed to sell its majority interest in Baring Private Equity Asia to EQT in 2022, with the sale completed that December. [37](https://ir.amg.com/news-releases/news-release-details/amg-announces-investment-abax-investments)[38](https://ir.amg.com/news-releases/news-release-details/bpea-enter-strategic-combination-eqt)[39](https://ir.amg.com/news-releases/news-release-details/amg-announces-partnership-northbridge-partners)
[28](https://app.finbar.com/go?id=P75383184)[29](https://app.finbar.com/go?id=P44516298)[1](https://www.amg.com/about-amg/)[30](https://ir.amg.com/news-releases/news-release-details/affiliated-managers-group-inc-completes-its-transaction-tweedy)[31](https://ir.amg.com/news-releases/news-release-details/amgs-william-nutt-receives-ernest-young-award-1998-new-england)[32](https://ir.amg.com/news-releases/news-release-details/amg-reports-financial-and-operating-results-first-quarter-1999)[33](https://ir.amg.com/news-releases/news-release-details/amg-reports-financial-and-operating-results-third-quarter-and)[34](https://www.sec.gov/Archives/edgar/data/1004434/000110465904037480/a04-13875_1ex99d2.htm)[35](https://www.sec.gov/Archives/edgar/data/1004434/000104746910000957/a2196550zex-99_1.htm)[36](https://ir.amg.com/news-releases/news-release-details/amg-announces-nathaniel-dalton-succeeds-sean-m-healey-ceo-0)[37](https://ir.amg.com/news-releases/news-release-details/amg-announces-investment-abax-investments)[38](https://ir.amg.com/news-releases/news-release-details/bpea-enter-strategic-combination-eqt)[39](https://ir.amg.com/news-releases/news-release-details/amg-announces-partnership-northbridge-partners)

## Sources

1. [www.amg.com](https://www.amg.com/about-amg/)
2. [www.amg.com](https://www.amg.com/products/)
3. [www.amg.com](https://www.amg.com/about-amg/global-institutional-platform/)
4. [wealth.amg.com](https://wealth.amg.com/)
5. [www.amg.com](https://www.amg.com/)
6. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T759097)
7. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T17859569)
8. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P91653701)
9. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P60780325)
10. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P90550208)
11. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P65499314)
12. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P101934285)
13. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P59671312)
14. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P110840307)
15. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P14030031)
16. [wealth.amg.com](https://wealth.amg.com/products/veritas-global-focus-fund-mfqtx/)
17. [wealth.amg.com](https://wealth.amg.com/products/amg-bbh-asset-backed-credit-fund/)
18. [wealth.amg.com](https://wealth.amg.com/products/gwk-municipal-bond-fund-gwmtx/)
19. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P69807581)
20. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P88311262)
21. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1004434/000162828026008665/amg-20251231.htm)
22. [www.amg.com](https://www.amg.com/legal-and-regulatory/)
23. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P26917298)
24. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P35444432)
25. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P94712172)
26. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P111490415)
27. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T9514340)
28. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P75383184)
29. [AFFILIATED MANAGERS GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P44516298)
30. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/affiliated-managers-group-inc-completes-its-transaction-tweedy)
31. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/amgs-william-nutt-receives-ernest-young-award-1998-new-england)
32. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/amg-reports-financial-and-operating-results-first-quarter-1999)
33. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/amg-reports-financial-and-operating-results-third-quarter-and)
34. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1004434/000110465904037480/a04-13875_1ex99d2.htm)
35. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1004434/000104746910000957/a2196550zex-99_1.htm)
36. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/amg-announces-nathaniel-dalton-succeeds-sean-m-healey-ceo-0)
37. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/amg-announces-investment-abax-investments)
38. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/bpea-enter-strategic-combination-eqt)
39. [ir.amg.com](https://ir.amg.com/news-releases/news-release-details/amg-announces-partnership-northbridge-partners)

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