and his team keep on racking up the deals, and their earnings are on the rise, too.
| Sean Healey|
Chairman, Chief Executive Officer
Yesterday Affiliated Managers Group
] unveiled investments in Abax Investments
, Ivory Investments
, and Systematica Investments
. As with some of AMG's
past deals, senior management at all three new affiliates will hold on to majority stakes in their respective boutiques. The three shops manage a combined $17.8 billion in AUM, and all three deals are slated to close by the end of December.
, the Financial Times
, and Reuters
all covered the Systematica deal.
And this morning AMG reported
economic earnings per share of $2.93 for Q3 2015, up from $2.76 in Q3 2014 and surpassing
estimates by $0.06. Yet even as AMG's earnings rose and beat expectations, its revenue did the opposite; for Q3 2015, AMG brought in $613.1 million in revenue, down from $640.3 million a year ago and missing estimates by $22.71 million.
, which AMG describes as "an innovative technology-driven firm focused on the rigorous application of science and technology to the investment process" that is a "managed futures and systematic trading" shop, is the biggest of the three new AMG affiliates-to-be with $8.8 billion in AUM as of October 1. It is led by Leda Braga
, and AMG is buying a majority of the Systematica stake held by BlueCrest Capital Management
. Systematica has offices in Geneva, Jersey (England), London, New York, and Singapore, and spun out of Blue Crest this past January.
Cape Town, South Africa-based Abax
(called Polaris Capital until 2009) had $5.4 billion in AUM as of September 30. It's a fundamentals-focused shop that invests in South African stocks and bonds, as well as global equities. The 12-year-old shop is led by senior partners Steve Minnaar
, Anthony Sedgwick
, Omri Thomas
, and Marius van Rooyen
has offices in LA and New York. As of September 30 it had about $3.6 billion in AUM, and like Abax it is fundamentals-focused. Ivory offers long-short equity and long-only strategies.
Neil Anderson, Managing Editor
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