AMG Announces Investment in River Road Asset Management

  AMG Announces Investment in River Road Asset Management

Business Wire

BOSTON -- March 28, 2014

Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management
company, has reached a definitive agreement with Aviva Investors North America
Holdings, Inc. (a subsidiary of Aviva plc) (“Aviva”), for AMG to acquire all
of Aviva’s equity interest in River Road Asset Management, LLC (“River Road”).

With approximately $11 billion in assets under management, River Road is based
in Louisville, Kentucky, and offers industry-leading value-oriented equity
strategies using a proven “absolute value” investment philosophy designed to
provide sustainable, low-volatility returns over the long term. Over the past
16 years, the team at River Road, which includes 16 investment professionals,
has developed innovative strategies which appeal to a broad and diverse
institutional and retail client base, including mutual funds, endowments,
foundations, retirement plan sponsors, corporations and sovereign wealth funds
located around the world.

River Road has a longstanding relationship with a part of the AMG Funds
business, Aston Asset Management, LP, and will continue to serve as
sub-advisor for six mutual funds in the Aston Funds family. AMG Funds, AMG’s
U.S. retail platform, has approximately $80 billion in assets under management
and administration.

Following the closing of the transaction, River Road’s management team will
own a substantial portion of the equity of the business and continue to direct
the firm’s day-to-day operations.

“We have long appreciated River Road’s strong fundamental approach to
investing and outstanding track record of generating excellent performance for
investors on a global basis,” said Sean M. Healey, Chairman and Chief
Executive Officer of AMG. “River Road has a tremendous history of developing
innovative products to meet the dynamic needs of its client base, including in
areas increasingly attractive to global investors, such as low-volatility
income-oriented strategies. We are very pleased to welcome River Road to our
Affiliate group, and look forward to working closely with the team.”

“Our partnership with AMG provides a permanent ownership model with direct
equity incentives and long-term commitments, and, at the same time, enables us
to continue to operate independently,” said R. Andrew Beck, President, Chief
Executive Officer and Senior Portfolio Manager of River Road. “The
preservation of our firm’s entrepreneurial culture, and operational and
investment autonomy, is very important to our clients and employees, and AMG’s
unique model is the ideal solution for River Road. Partnering with AMG also
provides access to the breadth and resources of a leading global asset
management company, and we are excited to work with our new partners across a
number of strategic initiatives, including product distribution globally.”

As part of the transaction, River Road’s executive team and key investment
professionals have agreed to long-term commitments to remain with the firm.
River Road will maintain an ongoing relationship with Aviva through a number
of sub-advisory mandates. The terms of the transaction were not disclosed.

About Affiliated Managers Group

AMG is a global asset management company with equity investments in leading
boutique investment management firms. AMG’s innovative partnership approach
allows each Affiliate’s management team to own significant equity in their
firm while maintaining operational autonomy. AMG’s strategy is to generate
growth through the internal growth of existing Affiliates, as well as through
investments in new Affiliates. In addition, AMG provides centralized
assistance to its Affiliates in strategic matters, marketing, distribution,
product development and operations. As of December 31, 2013, the aggregate
assets under management of AMG’s Affiliates were approximately $568 billion
(pro forma for pending investments) in more than 400 investment products
across a broad range of investment styles, asset classes and distribution
channels.For more information, please visit the Company’s website at
www.amg.com.

Certain matters discussed in this press release may constitute forward-looking
statements within the meaning of the federal securities laws. Actual results
and the timing of certain events could differ materially from those projected
in or contemplated by the forward-looking statements due to a number of
factors, including changes in the securities or financial markets or in
general economic conditions, the availability of equity and debt financing,
competition for acquisitions of interests in investment management firms, the
ability to close pending investments, the investment performance of our
Affiliates and their ability to effectively market their investment
strategies, and other risks detailed from time to time in AMG’s filings with
the Securities and Exchange Commission. Reference is hereby made to the “Risk
Factors” set forth in the Company’s Form 10-K for the year ended December 31,
2013.

AMG routinely posts information that may be significant for investors in the
Investor Relations section of its website, and encourages investors to consult
that section regularly. For additional information, please visit www.amg.com.

Contact:

Affiliated Managers Group, Inc.
Investor Relations:
Alexandra Lynn
(617) 747-3300
ir@amg.com
or
Media Relations:
Laura O’Brien
(617) 747-3300
pr@amg.com
or
River Road Asset Management, LLC
Media Relations:
Shannon Burnett
(502) 371-4100
shannon.burnett@riverroadam.com
 
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