Affiliated Managers Group (AMG) is to acquire an equity interest in Garda Capital Partners. After the closing of the transaction, the senior partners of Garda will continue to hold a majority of the equity of the business and direct the firm’s day-to-day operations.
With approximately USD4 billion in assets under management as of 30 April, 2019, Garda is an alternative investment manager specialising in fixed income relative value strategies and is headquartered in Minneapolis. Garda serves a diversified set of sophisticated institutional clients around the world, and throughout the firm’s 15-year history of continuous senior leadership, its flagship investment strategy has consistently delivered positive returns which are uncorrelated to traditional markets.
“With its distinctive strategy and outstanding investment track record across market cycles, Garda is a premier fixed income relative value manager,” says Nathaniel Dalton, Chief Executive Officer of AMG. “Given the firm’s disciplined approach in a highly attractive area, and cohesive and long-tenured senior investment team, we believe Garda has excellent growth prospects, and we are pleased to enter into this partnership.”
“AMG is our partner of choice, given its 25-year record of successful partnerships with highly regarded investment management firms and broad range of strategic capabilities,” says Jeff Drobny, Chief Executive Officer and Chief Investment Officer of Garda. “AMG’s unique investment approach will strongly support Garda’s objective of continuing to build an enduring, multi-generational, independent asset management specialist that serves its clients with distinction. It also enhances our ability to provide a robust incentive plan for the next generation of Garda leadership.”
As part of the transaction, Garda’s senior partners have agreed to long-term commitments with the firm. The transaction is expected to close in the third quarter of 2019. The terms of the transaction have not been disclosed.
