WSJ – Asset-management firm Affiliated Managers Group Inc. made its entry into private equity, announcing a $775 million deal to acquire Pantheon Ventures Ltd. from pension advisor Russell Investments.
The deal marks AMG’s largest acquisition to date and its fifth deal in seven months. Founded in 1993, the Boston firm built its business acquiring stakes in a variety of money-management firms, from Third Avenue Management, a firm run by value investor Martin Whitman, to AQR Capital Management, headed by Clifford Asness.
