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AMG to invest in Artemis Investment Management

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Affiliated Managers Group and the management team of Artemis Investment Management have reached a definitive agreement to purchase 100 per cent of the equity of Artemis from Fortis Bank, a subsidiary of BNP Paribas.

Following the closing of the transaction, AMG will own a majority equity interest in Artemis, with Artemis’ management team also acquiring a substantial equity ownership and continuing to direct the day-to-day operations of the firm.

Founded in 1997, Artemis is a UK fund manager specialising in active investment management for retail and institutional investors in the UK, as well as Europe and the Middle East.

Artemis is the second UK investment for AMG following its 2004 investment in Genesis Investment Management, a London-based emerging markets manager.

Sean M. Healey, AMG’s president and chief executive officer, says: “As one of the UK’s most highly regarded investment management firms, Artemis offers an outstanding array of investment products with strong long-term performance records. Our partnership with Artemis will enhance AMG’s existing international product set, as well as deepen our client base in desirable and fast-growing markets.”

Mark Tyndall, a founding partner of Artemis and its chief executive, says: “I am delighted that Artemis is returning to owner-management in partnership with AMG. Our affiliation with AMG will allow us to continue to attract and retain talented staff and to develop our business in the best interests of our clients. We have a strong, team-oriented culture and a focus on linking our fund managers’ interests with those of the firm and our clients.”

The transaction remains subject to regulatory approval and is expected to close at the beginning of the second quarter of 2010. The terms of the transaction were not disclosed.

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