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Affiliated Managers (AMG) to Acquire Minority Stake in Forbion
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Affiliated Managers Group, Inc. (AMG - Free Report) agrees to acquire a minority equity interest in Forbion Group Holding B.V. The terms of the deal, expected to close in the second half of 2023, have not yet been disclosed.
Being a venture capital and growth equity firm with €3 billion in assets under management, Forbion focuses on investing in high-quality life sciences companies across all stages of their development.
It provides capital and expertise to life sciences companies, enabling the development of new therapeutics that can impact the future of medicine.
Following the closure of the deal, Forbion partners will continue to hold a significant majority of the equity of the firm and direct its day-to-day operations.
Jay C. Horgen, president and CEO of AMG, stated, “We are very pleased to partner with Forbion, a leader in life sciences investing – a sector with robust client demand trends and meaningful societal impact. Our partnership with Forbion broadens our participation in both private markets and the life sciences sector, further diversifying our business and enhancing our long-term growth prospects.”
Sander Slootweg, co-founder and managing partner of Forbion, said, “We are excited to partner with AMG, as its unique approach enables us at Forbion to preserve our investment independence and operational autonomy. Our entrepreneurial and investment-centric culture has been critical to our success, and with our respective firms’ long-term partnership orientation, Forbion and AMG share a deep cultural alignment.”
Sander added, “As we continue to invest in high-quality life sciences companies, we are confident that our strategic partnership with AMG will enhance our ability to further expand our investment platform, diversify our client base as we access new geographies and channels through AMG’s capital formation capabilities, and build an enduring, multi-generational firm.”
Affiliated Managers, with its strong balance sheet and liquidity position, has considerable capability to invest in other companies and generate meaningful growth through new investments.
In October 2022, the company sold its minority interest in Baring Private Equity Asia to EQT AB and received $240 million in cash and 28.68 million EQT ordinary shares. This significantly bolstered its “financial flexibility to allocate capital across AMG’s unique opportunity set to the areas of highest growth and return.” Hence, it made a minority investment in a new affiliate, Peppertree Capital Management, a leading communications infrastructure firm.
AMG is expecting several “high-quality investment opportunities” to emerge and is targeting investments in alternatives and global strategies, given the strong investor preference for the same.
Over the past six months, shares of AMG have lost 9% against the industry’s growth of 0.5%.
JPMorgan (JPM - Free Report) has formed a strategic alliance with Cleareye.ai, a financial technology firm focused on trade finance. Trade finance refers to the financial products offered by institutions that seek to facilitate global trade by reducing counterparty risk between importers and exporters.
JPM’s investment in Cleareye.ai leverages the ClearTrade platform, solving the challenges faced by trade finance (the industry is undergoing a digital transformation).
Tradeweb Markets Inc. (TW - Free Report) , a leading global operator of electronic marketplaces and money markets, entered into a definitive agreement to acquire Yieldbroker, a prominent Australia-based trading platform, in an all-cash transaction of A$125 million. The deal’s closing, subject to customary conditions and regulatory reviews, is expected by the end of this year.
The transaction will facilitate a more liquid, transparent and efficient fixed-income market by bringing together innovative trading solutions and the deep industry experience of both companies. Hence, the acquisition aligns with TW’s mission to make markets more efficient.
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Affiliated Managers (AMG) to Acquire Minority Stake in Forbion
Affiliated Managers Group, Inc. (AMG - Free Report) agrees to acquire a minority equity interest in Forbion Group Holding B.V. The terms of the deal, expected to close in the second half of 2023, have not yet been disclosed.
Being a venture capital and growth equity firm with €3 billion in assets under management, Forbion focuses on investing in high-quality life sciences companies across all stages of their development.
It provides capital and expertise to life sciences companies, enabling the development of new therapeutics that can impact the future of medicine.
Following the closure of the deal, Forbion partners will continue to hold a significant majority of the equity of the firm and direct its day-to-day operations.
Jay C. Horgen, president and CEO of AMG, stated, “We are very pleased to partner with Forbion, a leader in life sciences investing – a sector with robust client demand trends and meaningful societal impact. Our partnership with Forbion broadens our participation in both private markets and the life sciences sector, further diversifying our business and enhancing our long-term growth prospects.”
Sander Slootweg, co-founder and managing partner of Forbion, said, “We are excited to partner with AMG, as its unique approach enables us at Forbion to preserve our investment independence and operational autonomy. Our entrepreneurial and investment-centric culture has been critical to our success, and with our respective firms’ long-term partnership orientation, Forbion and AMG share a deep cultural alignment.”
Sander added, “As we continue to invest in high-quality life sciences companies, we are confident that our strategic partnership with AMG will enhance our ability to further expand our investment platform, diversify our client base as we access new geographies and channels through AMG’s capital formation capabilities, and build an enduring, multi-generational firm.”
Affiliated Managers, with its strong balance sheet and liquidity position, has considerable capability to invest in other companies and generate meaningful growth through new investments.
In October 2022, the company sold its minority interest in Baring Private Equity Asia to EQT AB and received $240 million in cash and 28.68 million EQT ordinary shares. This significantly bolstered its “financial flexibility to allocate capital across AMG’s unique opportunity set to the areas of highest growth and return.” Hence, it made a minority investment in a new affiliate, Peppertree Capital Management, a leading communications infrastructure firm.
AMG is expecting several “high-quality investment opportunities” to emerge and is targeting investments in alternatives and global strategies, given the strong investor preference for the same.
Over the past six months, shares of AMG have lost 9% against the industry’s growth of 0.5%.
Image Source: Zacks Investment Research
Currently, Affiliated Managers carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Inorganic Growth Efforts by Other Finance Firms
JPMorgan (JPM - Free Report) has formed a strategic alliance with Cleareye.ai, a financial technology firm focused on trade finance. Trade finance refers to the financial products offered by institutions that seek to facilitate global trade by reducing counterparty risk between importers and exporters.
JPM’s investment in Cleareye.ai leverages the ClearTrade platform, solving the challenges faced by trade finance (the industry is undergoing a digital transformation).
Tradeweb Markets Inc. (TW - Free Report) , a leading global operator of electronic marketplaces and money markets, entered into a definitive agreement to acquire Yieldbroker, a prominent Australia-based trading platform, in an all-cash transaction of A$125 million. The deal’s closing, subject to customary conditions and regulatory reviews, is expected by the end of this year.
The transaction will facilitate a more liquid, transparent and efficient fixed-income market by bringing together innovative trading solutions and the deep industry experience of both companies. Hence, the acquisition aligns with TW’s mission to make markets more efficient.