Notes on the Pantheon Ventures Acquisition
Top news story this morning is that Affiliated Managers Group (NYSE: AMG) has agreed to buy fund-of-funds and secondary fund manager Pantheon Ventures for around $775 million in cash from Russell Investments (a subsidiary of Northwestern Mutual Life). For the uninitiated, Pantheon currently has around $22 billion in assets under management, including a particularly high level of dry powder. AGM has done five acquisitions in the past seven months, but this is the largest. I talked to a bunch of folks this morning about the deal, including AMG CEO Sean Healey and Pantheon managing director Susan McAndrews. A few notes after the jump...
10 February 2010•2 mins read
