olivLaw · US equity research
Affiliated Managers Group, Inc. AMG
Investment Advice · SIC 6282 · Vertical: Investment Advice (SIC 6282)
AMG is a strategic partner to leading independent investment firms worldwide that keep their autonomy and partner ownership. The company has grown its assets to over 900 billion dollars, with a growing tilt toward alternatives, which matters for the stability of its earnings.
At the close of 04 Nov 2026, Affiliated Managers Group, Inc. (AMG) stock was 364.49 USD (−1.35% on the day), with market capitalisation 9.4 bn USD, P/E 17.8 on diluted EPS of 20.46 USD over the last 12 months, dividend yield 0.01%, beta 1.13, 52-week range 250.46–399.02 USD. Latest reported quarter (Q2 2026): revenue of 640.7 m USD (+29.0% YoY), net income of 185.9 m USD (+156.8% YoY), diluted EPS 6.95 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 39.8
- weak (30–45)
- Bollinger (20, 2)
- 365.93 – 402.23
- below the lower band · %B -0.04 · band width 9.5%
- SMA 50 / 200
- 372.22 / 333.21
- mixed trend
- MACD (12, 26, 9)
- 0.68 / 4.13
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −4.3% | −1.1% | −3.2 pp | — |
| 3 months | −3.0% | −0.5% | −2.5 pp | — |
| 6 months | +19.1% | +4.4% | +14.7 pp | — |
| Year to date | +26.4% | +12.3% | +14.1 pp | — |
| 1 year | +45.0% | +13.5% | +31.4 pp | −2.8% |
| 3 years | +184.8% | +76.4% | +108.4 pp | +21.9% |
| 5 years | +95.9% | +63.7% | +32.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '24 | Q3 '24 | Q4 '24 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 500.3 m | 516.4 m | 524.3 m | 496.6 m | 493.2 m | 528.0 m | 544.9 m | 640.7 m |
| SG&A | 89.4 m | 97.0 m | 98.4 m | 94.7 m | 95.7 m | 100.5 m | 107.4 m | 107.4 m |
| Pre-tax income | 178.3 m | 217.1 m | 273.7 m | 126.6 m | 171.6 m | 362.5 m | 192.9 m | 307.4 m |
| Income tax | 43.3 m | 31.3 m | 52.6 m | 27.4 m | 35.7 m | 71.6 m | 46.5 m | 70.0 m |
| Net income | 76.0 m | 123.6 m | 162.1 m | 72.4 m | 84.3 m | 212.4 m | 110.4 m | 185.9 m |
| Diluted EPS | 2.26 | 3.78 | 4.18 ≈ | 2.20 | 2.80 | 6.87 | 3.84 | 6.95 |
| Operating cash flow | 245.2 m ≈ | 265.2 m ≈ | 212.5 m | 208.9 m | — | — | 299.3 m | 239.0 m ≈ |
| Capex | 600.0 k ≈ | 700.0 k ≈ | 1.1 m | 1.6 m | — | — | 3.8 m | 0 ≈ |
| Dividends paid | 400.0 k ≈ | 300.0 k ≈ | 400.0 k | 300.0 k | — | — | — | — |
| Share repurchases | 332.1 m ≈ | 104.9 m ≈ | 120.3 m | 176.2 m | — | — | 185.1 m | 179.7 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 72 percentile of its own 32-quarter history (min 4.8, median 14.0, max 206.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 2.2 bn | 2.0 bn | 2.4 bn | 2.3 bn | 2.1 bn | 2.0 bn | 2.1 bn |
| Revenue YoY | +3.2% | −5.8% | −9.5% | +19.0% | −3.4% | −11.7% | −0.8% | +1.6% |
| Net income | 243.6 m | 15.7 m | 202.2 m | 565.7 m | 1.1 bn | 672.9 m | 511.6 m | 716.6 m |
| Net income YoY | −64.7% | −93.6% | +1,187.9% | +179.8% | +102.6% | −41.3% | −24.0% | +40.1% |
| Diluted EPS | 4.52 | 0.31 | 4.33 | 13.05 | 25.35 | 17.42 | 15.13 | 22.74 |
| Diluted EPS YoY | −62.4% | −93.1% | +1,296.8% | +201.4% | +94.3% | −31.3% | −13.1% | +50.3% |
| net % | 10.2% | 0.7% | 10.0% | 23.4% | 49.2% | 32.7% | 25.1% | 34.5% |
| Free cash flow | 1.1 bn | 919.5 m | 1.0 bn | 1.3 bn | 1.0 bn | 861.9 m | 928.7 m | 967.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 586.0 m USD
- Financial debt
- 2.7 bn USD
- Net debt
- 2.1 bn USD
- Equity
- 4.2 bn USD
- Total assets
- 9.2 bn USD
- Debt / equity
- 0.64x
- Current ratio
- unavailable
- ROE
- 16.9%
- ROA
- 7.9%
- FCF margin
- 46.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.0 bn | 2.4 bn | 2.3 bn | 2.1 bn | 2.0 bn | 2.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| SG&A | 321.4 m | 347.1 m | 385.5 m | 358.2 m | 376.5 m | 408.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Interest expense | 92.3 m | 111.4 m | 114.4 m | 123.8 m | — | — | SEC (XBRL)· 16 Feb 2024verified |
| Pre-tax income | 508.4 m | 1.1 bn | 1.7 bn | 1.1 bn | 923.2 m | 1.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 81.4 m | 251.0 m | 358.3 m | 185.3 m | 182.6 m | 282.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 202.2 m | 565.7 m | 1.1 bn | 672.9 m | 511.6 m | 716.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 4.33 | 13.05 | 25.35 | 17.42 | 15.13 | 22.74 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 46.7 m | 44.8 m | 49.0 m | 42.2 m | 36.1 m | 33.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 0.35 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | SEC (XBRL)· 17 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.0 bn | 908.5 m | 429.2 m | 813.6 m | 950.0 m | 586.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 79.6 m | 73.9 m | 68.5 m | 67.3 m | 57.6 m | 54.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 2.7 bn | 2.7 bn | 2.6 bn | 2.5 bn | 2.5 bn | 2.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.0 bn | 2.0 bn | 1.9 bn | 1.8 bn | 1.8 bn | 1.6 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 7.9 bn | 8.9 bn | 8.9 bn | 9.1 bn | 8.8 bn | 9.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | 2.3 bn | 2.5 bn | 2.5 bn | 2.5 bn | 2.6 bn | 2.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 3.9 bn | 4.5 bn | 4.2 bn | 4.1 bn | 4.2 bn | 4.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 3.3 bn | 3.7 bn | 4.2 bn | 4.6 bn | 4.3 bn | 4.2 bn | SEC (XBRL)· 17 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.0 bn | 1.3 bn | 1.1 bn | 874.3 m | 932.1 m | 973.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 8.5 m | 8.4 m | 11.4 m | 12.4 m | 3.4 m | 6.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 1.0 bn ≈ | 1.3 bn ≈ | 1.0 bn ≈ | 861.9 m ≈ | 928.7 m ≈ | 967.1 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -53.7 m | -583.7 m | -109.9 m | 264.5 m | 379.1 m | -206.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | -455.4 m | -798.3 m | -1.4 bn | -758.3 m | -1.2 bn | -1.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 16.8 m | 1.7 m | 1.6 m | 1.5 m | 1.4 m | 1.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Share repurchases | 335.1 m | 595.3 m | 713.8 m | 341.9 m | 709.8 m | 706.3 m | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 9.4 bn USD
Key indicators
Coverage and freshness
Score by group
58% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 242.67 – 590.48 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E242.67 – 590.48 (Mid 447.93)29 companies used · median multiple 21.9x · quartiles 11.9x – 28.9xAAMI, ABX, AMP, APAM, APO, ARES, BEN, BVC, BX, CG, CNS, EVR, FHI, GROW, HLI, HNNA, KKR, LAZ, MORN, NOAH, PAX, PJT, RILY, RPC, TROW, VALU, VCTR, VRTS, WHG
- Dividend discount (DDM)outside the aggregate0.53 – 0.71 (Mid 0.60)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 26.9% | 77 (vs peers) | 11% |
| FCF conversion · Quality | 163.1% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | -3.8% | 0 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | -3.6% | 0 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 17.8x | 69 (vs peers) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 10.3% | 100 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 7.5% | 100 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | 0.1% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality88/100 · 2/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation83/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
AFFILIATED MANAGERS GROUP, INC. (AMG). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 2.1 bn USD in 2025; YoY growth 1.6%; net margin 26.9%; ROE 18.9%.
The estimated value range is 242.67–590.48 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 447.93 USD, the price of 364.49 USD leaves a potential of 22.9% (value / price − 1) and a margin of safety of 18.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 26.9%
- FCF conversion: 163.1%
- FCF yield: 10.3%
- Shareholder yield (distributions): 7.5%
- Payout ratio (FCF): 0.1%
What contradicts it
- Revenue CAGR 3Y: -3.8%
- EPS CAGR 3Y: -3.6%
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA.
Versus the vertical median
Investment Advice (SIC 6282) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BXBlackstone Inc. | 94.3 bn | 28.1 | 40.5% | 21.8% | +9.2% | −14% / +12% |
| KKRKkr & Co. Inc. | 91.0 bn | 28.9 | 10.6% | 14.8% | −11.0% | −17% / +34% |
| APOApollo Global Management, Inc. | 72.5 bn | 43.8 | 9.3% | 5.2% | +22.7% | −7% / +33% |
| AMPAmeriprise Financial, Inc. | 45.8 bn | 11.9 | 72.0% | 20.7% | +5.5% | +16% / +49% |
| TROWPrice T Rowe Group Inc | 24.0 bn | 11.3 | 19.7% | 28.4% | +3.1% | +10% / +12% |
| BENFranklin Resources Inc | 17.2 bn | 22.8 | 6.8% | 8.7% | +3.5% | +50% / +37% |
| CGCarlyle Group Inc. | 15.2 bn | 44.6 | 5.2% | 10.1% | −11.9% | −22% / +25% |
| ARESAres Management Corporation | 14.1 bn | 22.2 | 15.3% | 12.0% | +28.9% | −13% / +22% |
| IVZInvesco Ltd. | 12.9 bn | — | -0.6% | -1.2% | +5.1% | +20% / +106% |
| AMGAffiliated Managers Group, Inc. | 9.4 bn | 17.8 | 18.9% | 26.9% | +1.6% | +45% / +185% |
| MORNMorningstar, Inc. | 9.1 bn | 21.4 | 35.1% | 17.0% | +7.5% | +14% / −14% |
| VCTRVictory Capital Holdings, Inc. | 7.4 bn | 20.6 | 19.0% | 29.6% | +46.2% | +91% / +274% |
| MAASMAASE Inc. | 4.9 bn | — | -7.2% | -102.1% | −75.2% | +182% / −95% |
| LAZLazard, Inc. | 4.5 bn | 24.4 | 20.6% | 5.5% | +1.5% | −19% / +36% |
| PJTPJT Partners Inc. | 3.9 bn | 19.7 | 83.2% | 10.6% | +14.8% | −6% / +76% |
| CNSCohen & Steers, Inc. | 3.9 bn | 23.3 | 29.2% | 28.2% | +7.5% | +20% / +29% |
| APAMArtisan Partners Asset Management Inc. | 3.3 bn | 9.3 | 73.1% | 24.5% | +7.6% | −2% / +7% |
| AAMIAcadian Asset Management Inc. | 3.3 bn | 32.4 | — | 15.2% | +11.5% | +104% / +425% |
| NOAHNoah Holdings Ltd | 2.4 bn | 30.7 | 5.8% | 21.4% | +4.8% | −31% / −45% |
| ABXAbacus Global Management, Inc. | 885.0 m | 32.5 | 6.6% | 10.5% | +110.2% | +37% / +31% |
| VRTSVirtus Investment Partners, Inc. | 853.6 m | 7.4 | 12.6% | 14.0% | −6.0% | −19% / −34% |
| VALUValue Line, Inc. | 416.6 m | 21.0 | 18.7% | 60.3% | −4.7% | +20% / +6% |
| WHGWestwood Holdings Group, Inc. | 182.5 m | 21.9 | 6.4% | 7.8% | +3.2% | +14% / +75% |
| RILYBRC Group Holdings, Inc. | 154.0 m | 0.3 | — | 35.9% | +29.6% | −12% / −79% |
| BVCBitVentures Limited | 138.6 m | 39.8 | 28.9% | 687.6% | unavailable | +1,203% / −76% |
1- and 3-year price returns: for AMG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 221.34 Total return -39% · Per year -39% | 393.02 Total return 8% · Per year 8% | 594.32 Total return 63% · Per year 63% |
| 3 years | 180.50 Total return -50% · Per year -21% | 363.76 Total return -0% · Per year -0% | 608.75 Total return 67% · Per year 19% |
| 5 years | 147.19 Total return -60% · Per year -17% | 336.69 Total return -8% · Per year -2% | 623.52 Total return 71% · Per year 11% |
- Exit P/E± 90.94
- Net margin± 63.66
- Annual revenue growth± 56.77
- Annual dilution± 5.35
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
AMG is a strategic partner to leading independent investment firms worldwide that keep their autonomy and partner ownership. The company has grown its assets to over 900 billion dollars, with a growing tilt toward alternatives, which matters for the stability of its earnings 12.
SWOT
Strengths
- The partnership model keeps Affiliate autonomy, which attracts independent firms and sustains management ownership.
- Diversification across alternatives and long-only supports earnings stability across market cycles.
- The U.S. wealth distribution platform gives access to markets that independent firms could struggle to reach alone.
Weaknesses
- Many Affiliate contracts can be terminated on short notice, exposing revenue to client losses.
- Results depend on performance fees, which can vary significantly from period to period.
- Debt and purchase obligations on Affiliate interests could require substantial cash in a difficult period.
Opportunities
- Investor demand for alternative strategies could continue to grow and support new partnerships.
- Expansion in U.S. wealth management could bring new products and clients through the existing platform.
- Succession planning at independent firms could generate new partnership opportunities.
Threats
- Competitive pressure and fee compression on passive products could erode Affiliate revenue.
- Market volatility or macroeconomic conditions could reduce assets under management.
- AI-based technologies could reduce demand for some traditional services.
Risks
- Fee dependencehigh
Revenue depends on Affiliate fees, which could fall if performance, product mix or asset levels change.
- Contract terminationhigh
Clients can end contracts on short notice, and losing key clients could affect results.
- Capital needsmedium
Obligations on Affiliate interests and capital commitments could require additional funding under unfavorable conditions.
- Reputationmedium
Compliance issues, litigation or public errors could damage the reputation of the company and its Affiliates.
- Competitionlow
Larger firms with superior resources could reduce fees or the ability of Affiliates to attract clients.
Investment thesis
What would need to be true (bull case)
- If demand for alternatives holds, asset growth and fees could continue, and new partnerships could add revenue.
- The partnership model could keep attracting valuable independent firms and support organic growth.
- Cash generation and share repurchases could give the company flexibility for investment and distributions.
What would break the thesis
- Continued equity outflows could reduce fees if the industry trend strengthens.
- Dependence on performance fees could make revenue unstable from year to year.
- Rising debt and obligations linked to equity interests could limit financial flexibility.
What to watch
- Trends in net flows into alternatives and equitiesQ3 2026
- Consolidated revenue and aggregate feesQ3 2026
- New partnerships and divestment transactions2027
- Debt level and obligations on Affiliate interestsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
AMG invests in independent investment firms owned by their partners and provides them with growth capital, product strategy, distribution through its capital formation platform, succession planning and strategic advisory, without removing their independence 1. As of December 31, 2025, Affiliates managed approximately 813 billion dollars across alternative and differentiated long-only strategies 1. As of June 30, 2026, assets under management were approximately 942 billion dollars 2.
Segments
Alternatives, private and liquid
Affiliates managed approximately 146 billion dollars in private market assets and 227 billion dollars in liquid alternative assets at the end of 2025 1. Net flows into alternatives were strong in 2026, and these strategies can generate performance fees that contribute to earnings stability 13.
Market context
Trends
- Demand for alternativestailwind
Strong net flows into liquid and private strategies suggest investor interest in alternatives could support AMG's growth if the pattern holds 23.
- Equity outflowsheadwind
Equity strategies have seen continued net outflows, an effect tied to industry trends that could reduce fees if it persists 12.
- Deal activity and divestmentsmixed
Sales of minority stakes and new partnerships change the asset mix, which can raise or reduce revenue depending on deal timing 12.
- Artificial intelligenceheadwind
AI-based tools could reduce demand for some products or clients' willingness to pay for them, which could affect Affiliate fees 1.
Competitive position
Affiliates compete with numerous investment management firms, including subsidiaries of larger financial groups that may have greater financial and marketing resources 1. When acquiring independent firms, AMG competes with investment managers, private equity firms and sovereign wealth funds 1.
- TPG Inc.TPG
Private equity platform that acquired Peppertree, a 2025 transaction noted in AMG's filings 1.
- Manulife Financial Corporation
Financial company that acquired Comvest's private credit business in 2025 1.
- Brown Brothers Harriman
Privately held financial services firm with which AMG entered a strategic partnership 12.
- Walter Global Asset Management
Asset manager that bought AMG's minority stake in Montrusco Bolton 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report07 Aug 2026
- Current report30 Jul 2026Results of operations · Other events · Financial statements and exhibits
- Current report09 Jun 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report28 May 2026Shareholder vote
- Quarterly report07 May 2026
- Current report01 May 2026Results of operations · Other events · Financial statements and exhibits
- Proxy statement17 Apr 2026
- Current report26 Feb 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Annual report17 Feb 2026
- Current report12 Feb 2026Results of operations · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Affiliated Managers Group, Inc. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Affiliated Managers Group, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Affiliated Managers Group, Inc. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.