Affiliated Managers (AMG) is weighing the sale of its minority interest in Comvest Partners, an alternative asset manager that oversees roughly $15.7B, Bloomberg’s Gillian Tan and Matthew Monks report, citing people with knowledge of the matter. The company is working with an adviser to solicit interest in the stake, and any deal could value Comvest at $700M or more, the authors note. Shares of Affiliated Managers are up 2.8% in afternoon trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMG:
- Affiliated Managers explores sale of Comvest stake, Bloomberg reports
- Affiliated Managers files automatic mixed securities shelf
- Affiliated Managers price target lowered to $210 from $212 at Deutsche Bank
- AMG Earnings Call: Record Growth Amid Challenges
- Affiliated Managers Group Reports Strong 2024 Growth