Affiliated Managers Group acquires Gannett Welsh & Kotler

Affiliated Managers Group acquired Gannett Welsh & Kotler, a transaction completed in October 2008, structured as cash (terms not disclosed). The deal was a Carve-out / majority-stake investment.

Gannett Welsh & Kotler operates in Municipal & taxable fixed income, equities, is based in Boston, Massachusetts, USA (carved out of BNY Mellon), had revenue of about $7 billion AUM. AMG, in partnership with the management team, completed its investment in Gannett Welsh & Kotler, LLC, acquiring the Boston-based manager from The Bank of New York Mellon. GW&K managed more than $7 billion across municipal bonds, taxable bonds and multi-/small-cap equities for private and institutional clients and two mutual funds. A broad group of GW&K professionals took equity in the firm and signed long-term employment agreements.

Carving an established fixed-income and equity boutique out of a large bank and re-aligning its professionals through direct ownership.

Advisory firms were not disclosed for this transaction.

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