AMG buys into Chinese asset manager

Affiliated Managers Group Inc., a diversified asset management company, has acquired 5 percent of the Chinese asset manager Value Partners Group Ltd. AMG, based in Beverly, acquired the stake for 45 cents per share, which values the deal at about $36 million. The companies have agreed on joint product development and strategic distribution, which extends AMG’s presence to the rapidly expanding Chinese market. AMG expects to open a sales and marketing office in Hong Kong next year. AMG had about $200 billion under management on Sept. 30. Value Partners had about $4.6 billion.