About This Deal
Affiliated Managers Group acquired Veritable, a transaction completed in June 2012, structured as cash (terms not disclosed). The deal was a Majority-stake investment.
Veritable operates in Ultra-high-net-worth wealth management, is based in Newtown Square, PA. On June 29, 2012 AMG completed its investment in Veritable, LP, an ultra-high-net-worth wealth manager, through its AMG Wealth Partners platform.
Consistent with AMG's partnership model, the Affiliate's management retains equity and operating autonomy while AMG provides permanent capital, global distribution and strategic resources.
Deal Terms
Acquirer
Affiliated Managers Group
Target
Veritable
Value
Not disclosed
Date
June 2012
Type
Majority-stake investment
Status
Ready
Transaction Details
Target HQ
Newtown Square, PA
Segment
Ultra-high-net-worth wealth management
Structure
Cash (terms not disclosed)
Announced
June 29, 2012
Closed
June 29, 2012
In Their Words
On June 29, 2012, we completed our investment in Veritable, LP ("Veritable") through AMG Wealth Partners.Affiliated Managers Group, FY2012 Form 10-K
Advisors
Advisory firms were not disclosed for this transaction.
Related Deals & Entities
Sources:
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