Affiliated Managers Group, a global asset management company, is to acquire a majority equity interest in SouthernSun Asset Management. Terms of the transaction were not disclosed.

Affiliated Managers Group, a global asset management
company, is to acquire a majority equity interest in SouthernSun Asset Management.
Terms of the transaction were not disclosed.

After the closing of the transaction, SouthernSun’s partners
will continue to hold a substantial portion of the equity of the business and direct
its day-to-day operations, AMG said.

SouthernSun was founded in 1989 and has some $5 billion in
assets under management. The firm offers US small- and mid-cap strategies
and a recently launched global investment strategy.  

As part of the transaction, SouthernSun’s senior
professionals have agreed to long-term commitments with the firm, and the
SouthernSun funds will become part of AMG’s mutual fund platform. AMG will also acquire the entire ownership interest
of the outside investors in the firm.