• • Adjusted Q4 EBITDA increased 27% year-over-year, driven by growth in both management and performance fee EBITDA contribution • Repurchased 10% of shares outstanding across the full year 2020, including $226 million in shares during Q4
WEST PALM BEACH, Fla., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. (NYSE: AMG) today reported its financial and operating results for the fourth quarter and full year 2020. Jay C. Horgen, President and Chief Executive Officer of AMG, said: “AMG reported Adjusted EBITDA of $255 million in the fourth quarter; the year-over-year growth of 27% reflects strong investment performance from our Affiliates across a broad array of alpha-oriented strategies, along with the positive impact of strategic investments and actions to reposition the business for growth. Business momentum and net client cash flows were particularly strong in private markets, wealth management, and specialty fixed income during the quarter. Looking ahead, AMG continues to have excellent long-term growth prospects; our Affiliates are well-positioned to benefit from clients’ increasing risk appetite, particularly given their strong track records in attractive product areas.