Affiliated Managers Group Inc. (NYSE:AMG) Q2 2023 Earnings Conference Call July 26, 2023 8:30 AM ET

Company Participants

Patricia Figueroa - IR

Jay Horgen - CEO

Thomas Wojcik - CFO

Conference Call Participants

Alexander Blostein - Goldman Sachs

Patrick Davitt - Autonomous Research

Michael Brown - KBW

Operator

Greetings, and welcome to the AMG Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Patricia Figueroa, Head of Investor Relations for AMG. Thank you. You may begin.

Patricia Figueroa

Good morning and thank you for joining us today to discuss AMG’s results for the second quarter of 2023.

Before we begin, I’d like to remind you that during this call, we may make a number of forward-looking statements, which could differ from our actual results materially, and AMG assumes no obligation to update these statements. A replay of today’s call will be available on the Investor Relations section of our website, along with a copy of our earnings release and a reconciliation of any non-GAAP financial measures, including any earnings guidance announced on this call. In addition, we posted an updated investor presentation to our website this morning, and encourage investors to consult our site regularly for updated information.

With us today to discuss the company’s results for the quarter are Jay Horgen, President and Chief Executive Officer; and Tom Wojcik, Chief Financial Officer.

With that, I’ll turn the call over to Jay.

Jay Horgen

Thanks Patricia, and good morning, everyone. AMG’s second quarter results reflect the positive impact of our capital allocation strategy across both growth investments and share repurchases. During the quarter, we announced a new partnership with Forbion, marking our seventh investment in alternatives over the last four years, further evolving the composition of our business towards in-demand strategies. We continue to see attractive new investment opportunities and advanced several of them during the quarter.

Looking ahead, we expect to deploy additional capital toward private markets and liquid alternatives through investments in new and existing affiliates. Given our robust financial flexibility, which will be further enhanced by the proceeds from the veritable transaction, along with our capital allocation discipline and differentiated partnership model, AMG is uniquely positioned to deliver significant shareholder value over time as we continue to execute on our long-term growth strategy.