Affiliated Managers Group, a diversified asset management group that invests in both traditional and alternative managers and had USD283bn in assets at the end of last year, is opening an
Affiliated Managers Group, a diversified asset management group that invests in both traditional and alternative managers and had USD283bn in assets at the end of last year, is opening an office in London to extend its institutional distribution effort to the Middle East.
‘The Middle East, which includes some of the largest, most sophisticated pools of managed assets in the world, offers significant opportunities for AMG to help its affiliates service existing clients, as well as establish significant new client relationships,’ says Nate Dalton, AMG’s executive vice-president and chief operating officer.
‘Institutional investors worldwide are increasingly attracted to boutique investment managers, and through our global distribution initiative, they gain access to high-quality, specialised investment services and products managed by our outstanding group of affiliates.’
‘AMG continues to build on a track record of offering business development initiatives that enhance the growth of our boutique investment firms, and we are actively identifying additional markets where they can expand their global reach.’
Through the London office, AMG will provide institutional investors in the Middle East with investment services and products offered by its affiliates covering a range of investment styles and asset classes, including global and US equities, real estate, currency and global asset allocation.
AMG says its affiliates, which currently manage more than USD70bn in assets for non-US clients, are recognised for their long-term track records, consistent adherence to their investment processes and the strength of their management teams. The company has taken various steps to enhance their global reach, including the opening of an office in Sydney last year.
The Middle East effort is being led by managing director David Waite, who joined AMG from ABN Amro Asset Management. At ABN Amro he was head of asset management for the Middle East and Africa, responsible for client servicing as well as marketing and sales to institutional clients. Waite was previously head of asset management and head of portfolio management for Gulf International Bank (UK), formerly Saudi International Bank.
‘David is an experienced professional with an excellent reputation in the sales and marketing sector, and we are pleased to have him head up our distribution efforts in the Middle Eastern markets,’ Dalton says.
Waite says: ‘AMG has made tremendous progress in its efforts to grow globally by targeting markets where its boutique investment managers, which have broad appeal to sophisticated institutional investors, are recognised for their investment expertise.
‘I look forward to supporting the distribution of its affiliates’ investment management services to institutional clients in the Middle East and providing superior execution in sales and client service for these firms.’
AMG’s strategy is to generate growth through the organic expansion of its existing affiliates as well as through investment in new affiliates. Through its partnership approach, individual members of each affiliate’s management team retain or receive significant direct equity ownership in their firm while maintaining operating autonomy. AMG provides centralised assistance in strategic matters, marketing, distribution, product development and operations.