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Affiliated Managers to sell BlueMountain stake to Assured Guaranty

Aug. 07, 2019 5:02 PM ETAffiliated Managers Group, Inc. (AMG) StockAMG, AGOBy: Liz Kiesche, SA News Editor1 Comment
  • Affiliated Managers Group (NYSE:AMG) agrees to sell its equity interests in BlueMountain Capital Management and its associated entities to Assured Guaranty (NYSE:AGO) for $91M in cash. As part of the transaction, AGO will contribute cash to BlueMountain to fund its working capital needs and the repositioning of the firm.
  • The deal, expected to close by the end of 2019, will be immediately accretive to AMG's earnings.

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