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.
On June 29, 2012, we completed our investment in Veritable, LP ("Veritable") through AMG Wealth Partners.Affiliated Managers Group, FY2012 Form 10-K
Advisory firms were not disclosed for this transaction.