WEST PALM BEACH, Fla., March 23, 2020 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, announced it has entered into a strategic partnership with iCapital Network (“iCapital”), a leading financial technology platform providing innovative solutions for advisors and their clients, asset managers, and banks to access and offer strategies in the alternative investing marketplace. As part of the strategic partnership, AMG made a modest investment in iCapital.
The investment is part of a broader strategic partnership in which AMG and its Affiliates, leading independent boutique asset management and wealth management firms, will utilize iCapital’s proprietary technology in the administration of private market vehicles and enhance high net worth clients’ access to alternative investment strategies.
iCapital’s alternative investment platform offers financial advisors and their clients an end-to-end technology solution that fully automates the unique subscription, administration, and reporting processes of alternative investments. In addition, the company enables asset managers to leverage iCapital’s technology-enabled services to streamline and scale the operational infrastructure of their alternative investments and access the multi-trillion-dollar retail marketplace.
AMG remains committed to allocating resources to growth opportunities for its Affiliates, and expects a number of its alternative and wealth management Affiliates to leverage iCapital’s platform over time, joining Pantheon, an existing iCapital client.
About AMG
AMG is a global asset management company with equity investments in leading boutique investment management firms. AMG’s strategy is to generate long-term value by investing in leading independent active investment managers, through a proven partnership approach, and allocating resources across the Company's unique opportunity set to the areas of highest growth and return. AMG’s innovative partnership approach allows each Affiliate’s management team to own significant equity in their firm while maintaining operational autonomy. In addition, AMG provides centralized assistance to its Affiliates on strategy, marketing, distribution, and product development. As of December 31, 2019, AMG’s aggregate assets under management were approximately $726 billion, pro forma for the investment in Comvest Partners which has subsequently closed, across a broad range of active, return-oriented strategies. For more information, please visit the Company’s website at www.amg.com.
