The market fall in the fourth quarter of 2008 didn't spare Affiliated Managers Group and its asset manager subsidiaries. On Wednesday the Boston-based serial acquirer confirmed that its assets under management fell $37 billion to $170.145 billion, thanks to $3.29 billion in net outflows and $39.465 billion in market decline. Meanwhile, president and CEO Sean M. Healey is hungry for more acquisitions.

"There continue to be a large number of outstanding boutique firms which are facing ongoing demographically-driven succession issues, as well as a range of opportunistic transactions, including those involving corporate sellers," Healey stated. "We are well positioned to continue to execute additional investments in new Affiliates."

The mutual offerings of AMG (which owns BlueMountain, First Quadrant, Friess Assocaites, Frontier, Genesis, Third Avenue, TimesSquare and Tweedy, Browne) saw $1.735 billion in client outflows and $9.671 billion in market-related declines last quarter, ending with $34.704 billion in mutual fund AUM on December 31. 

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