Affiliated Managers Group, a multiboutique asset management firm, has taken a minority stake in NorthBridge Partners, a private markets boutique focused on industrial logistics real estate assets, according to an AMG news release Feb. 6.
The West Palm Beach, Fla.-based AMG didn’t provide further details ahead of an analyst earnings call for the fourth quarter and calendar year 2024.
Wakefield, Mass.-based NorthBridge has about $2 billion in assets under management invested in “last-mile logistics properties,” the news release said.
NorthBridge had $3.1 billion in total real estate AUM as of Sept. 30, its website said.
AMG said its latest investment in an asset management affiliate was in line with its broader strategy of adding exposure to secular growth areas such as private markets and liquid alternatives.
As of Dec. 31, AMG had $708 billion in assets under management.
