| • | AMG to invest in Forbion, a leading pan-European life sciences venture capital and growth equity firm | |
| • | Partnership will further diversify AMG's business and enhance its participation in private markets and life sciences | |
| • | Will enable Forbion to access clients in new geographies and channels and continue to build an enduring, multi-generational firm | |
| • | Forbion co-founders will remain committed to the firm over the long term, and the Forbion partnership will continue to own a significant majority of the company’s shares | |
| • | Forbion partners will retain their investment independence and operational autonomy, in line with AMG’s partnership approach | |
WEST PALM BEACH, Fla., June 27, 2023 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. (: AMG), a leading partner to independent investment management firms globally, has entered into a definitive agreement to acquire a minority equity interest in Forbion Group Holding B.V. (“Forbion”). After the closing of the transaction, Forbion partners will continue to hold a significant majority of the equity of the firm and direct its day-to-day operations.
Forbion is a leading pan-European venture capital and growth equity firm focused on investing in high-quality life sciences companies across all stages of their development. With approximately €3 billion in assets under management, Forbion provides capital and expertise to life sciences companies, enabling the development of new therapeutics that can impact the future of medicine. Led by co-founders and Managing Partners Sander Slootweg, Geert-Jan Mulder, and Martien van Osch, Forbion’s seasoned team has delivered excellent returns for clients for more than two decades, and continues to support companies delivering breakthrough drug therapies to the global market.
“We are very pleased to partner with Forbion, a leader in life sciences investing – a sector with robust client demand trends and meaningful societal impact,” said Jay C. Horgen, President and Chief Executive Officer of AMG. “AMG’s partnership approach continues to attract outstanding firms seeking to preserve their independence and entrepreneurial cultures, and to benefit from collaboration with a strategic partner that can magnify their success. Our partnership with Forbion broadens our participation in both private markets and the life sciences sector, further diversifying our business and enhancing our long-term growth prospects. I am pleased to welcome Sander, Geert-Jan, Martien, and their partners to our Affiliate group.”
“We are excited to partner with AMG, as its unique approach enables us at Forbion to preserve our investment independence and operational autonomy,” said Sander Slootweg, co-founder and Managing Partner of Forbion. “Our entrepreneurial and investment-centric culture has been critical to our success, and with our respective firms’ long-term partnership orientation, Forbion and AMG share a deep cultural alignment. As we continue to invest in high-quality life sciences companies, we are confident that our strategic partnership with AMG will enhance our ability to further expand our investment platform, diversify our client base as we access new geographies and channels through AMG’s capital formation capabilities, and build an enduring, multi-generational firm.”
The terms of the transaction were not disclosed. The transaction is expected to close in the second half of 2023.
About AMG
AMG is a leading partner to independent investment management firms globally. AMG’s strategy is to generate long-term value by investing in a diverse array of high-quality independent partner-owned firms, through a proven partnership approach, and allocating resources across AMG’s unique opportunity set to the areas of highest growth and return. AMG’s innovative partnership approach enables each Affiliate’s management team to own significant equity in their firm while maintaining operational and investment autonomy. In addition, AMG offers its Affiliates growth capital, distribution, and other strategic value-added capabilities, which enhance the long-term growth of these independent businesses, and enable them to align equity incentives across generations of principals to build enduring franchises. As of March 31, 2023, AMG’s aggregate assets under management were approximately $668 billion across a broad range of differentiated investment strategies. For more information, please visit the Company’s website at www.amg.com
About Forbion
Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany, and Singapore. Forbion invests in life sciences companies that are active in the biopharmaceutical space, managing €3 billion across multiple fund strategies that cover all stages of biopharmaceutical drug development. The firm’s current team consists of more than 30 life sciences investment professionals that have built an impressive performance track record since the late nineties with investments in 95 companies across 8 funds. Forbion’s record of sourcing, building and guiding life sciences companies has resulted in many breakthrough therapies and valuable exits. In addition to its financial return objectives, Forbion selects investments that will positively affect the health and well-being of patients. The firm is a signatory to the United Nations Principles for Responsible Investment. More information can be found at www.forbion.com
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws, and could be impacted by a number of factors, including those described under the section entitled “Risk Factors” in AMG’s most recent Annual Report on Form 10-K, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. AMG undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. From time to time, AMG may use its website as a distribution channel of material Company information. AMG routinely posts financial and other important information regarding the Company in the Investor Relations section of its website at www.amg.com and encourages investors to consult that section regularly.
AMG Investor Relations: Patricia Figueroa
AMG Media Relations: Ann Imes
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