AMG grabs stake in Chicago Equity Partners

Affiliated Managers Group will acquire a roughly 60% stake in Chicago Equity Partners, a quantitative equity manager with $11.4 billion in institutional assets under management. The remaining 40% will be held by nine key CEP professionals, including the firm's five founders, all of whom have entered long-term employment agreements with the firm and AMG, according to an AMG news release. Details of the transaction weren't released. The deal will enable "our management team to retain significant equity ownership, while also providing the next generation of our leaders with meaningful equity stakes," CEP President Patrick C. Lynch said in the release. Putnam Lovell NBF Securities represented Chicago Equity Partners.