Shares of Affiliated Managers Group (AMG) surged 11.29% in pre-market trading on Thursday, following the release of its impressive first-quarter results and the announcement of a new strategic partnership.

The company reported robust financial performance for Q1, with adjusted EBITDA of $228.2 million, surpassing the analysts' estimate of $223.9 million. AMG's assets under management reached an impressive $712,200 million, showcasing the firm's strong market position and client trust. While the net income of $72.4 million fell short of the estimated $159.9 million, investors seemed to focus on the overall positive outlook and growth indicators.

Adding to the optimism, AMG announced a new partnership with Qualitas Energy, which is expected to enhance the company's strategic positioning in the market. This collaboration, combined with the strong quarterly results, appears to have fueled investor confidence, driving the significant pre-market stock price increase. As the market opens, all eyes will be on AMG to see if this momentum continues throughout the trading session.