Benzinga | Jan 18, 2022 08:23AM EST

Affiliated Managers Group Reports Co., Leda Braga Jointly Acquired Remaining Minority Equity Interest In Systematica; AMG Expects For Added Investment Of ~$18M

Affiliated Managers Group, Inc. (NYSE:AMG), a leading partner to independent investment management firms globally, and Systematica Investments ("Systematica"), an innovative technology-driven firm focused on a quantitative and systematic approach to investing, today announced that AMG and Leda Braga, Founder and Chief Executive Officer of Systematica, have jointly acquired the remaining minority equity interest in Systematica previously owned by a third-party investor.

Following the transaction, which completes the full transition of equity ownership planned since Systematica's spin-out as an independent firm in 2015, Ms. Braga holds an increased majority ownership position, and AMG holds a substantial minority interest in the firm. Systematica is among the largest woman-owned and -led alternative firms in the asset management industry.

Systematica is focused on employing science and technology in the investment process to achieve an innovative, superior, and sustainable approach to investment management. Recognized as one of the leading systematic managers in the world, Systematica offers a number of distinctive quantitative investing strategies across a broad array of markets, including the recently launched Systematica China Markets strategy, and the firm's award-winning strategies have generated excellent investment performance and client outcomes over the long term. As of December 31, 2021, Systematica managed approximately $13 billion in assets; the firm's assets under management have grown approximately 50% and meaningfully diversified across a number of new strategies since AMG's initial investment.

"We are very pleased to further enhance our partnership with Systematica, one of the leading independent technology-driven investment managers globally," said Jay C. Horgen, President and Chief Executive Officer of AMG. "Leda and the Systematica management team have been terrific partners over the years, and have built a renowned investment firm that has only extended its long-term track record of generating strong, differentiated returns for clients. Our increased investment reflects our confidence in Leda's leadership and in the firm's forward prospects."

"Seven years ago we embarked on a journey as an independent firm, and today, in partnership with AMG, we are completing the full transition of equity ownership in line with our strategic plan," said Ms. Braga. "AMG has been an excellent partner to us -- particularly through a period of strategic development that has driven significant growth for our firm. We are well-positioned to build on our strong business momentum, and we look forward to continuing our enhanced partnership with AMG over the long term."

While the terms of the transaction were not disclosed, AMG expects that its additional investment will contribute approximately $18 million in incremental Adjusted EBITDA in 2022, including estimated performance fees.