Bill [Last Name Unknown]'s questions to Affiliated Managers Group Inc (AMG) leadership • Q3 2024
Question
Bill from an unknown firm asked about AMG's capital deployment strategy, questioning the balance between its M&A pipeline and share repurchases, especially given the updated buyback guidance and active transaction environment.
Answer
President and CEO Jay Horgen confirmed that AMG has several M&A opportunities in the later stages, primarily in private markets and liquid alternatives, which is influencing capital planning. CFO Dava Ritchea added that while 2024 is on track for a record ~$700 million in share repurchases, the company is balancing this with the potential need for capital to execute on its strong new investment pipeline.