AMG owns a subsidiary office in Sydney and provides Australian and New Zealand investors with region-specific investment products and services through its sales, servicing and distribution platform.
Following the close of the transaction, SouthernSun’s partners will continue to hold a large proportion of the equity of the business and direct its operations.
SouthernSun was established in 1989 and holds approximately $5 billion in assets under management.
The firm manages long-term, concentrated portfolios through a fundamental, research-intensive investment process.
It offers US-based small and mid-cap strategies and a recently launched global investment strategy.
AMG’s chairman and chief executive officer, Sean M Healey, said AMG continues to attract the industry’s high-ranking boutiques, adding that SouthernSun has distinguished itself with its investment products.
“With a long-term track record of generating exceptional returns for investors, and outstanding prospects for future growth, SouthernSun is an excellent addition to our Affiliate group,” said Mr Healey.
“We believe that the firm’s measured, disciplined approach to identifying value in prospective investments will enable it to continue to generate extraordinary growth in the years ahead,” he said.
SouthernSun’s founder, chief executive and chief investment officer, Michael Cook, said AMG’s partnership approach will enable SouthernSun to retain its operating autonomy and ability to continue to employ the uniquely patient approach to investment management that has been vital to its success.
“The partnership with AMG will also position our team for the long term by facilitating equity transfers over time to the next generation of partners here at SouthernSun,” said Mr Cook.
As part of the transaction, SouthernSun’s senior professionals have made long-term commitments with the firm.
SouthernSun funds will also form part of AMG’s mutual fund platform.
AMG will acquire the entire ownership interest related to outside investors in the firm.
