Affiliated Managers Group (AMG) said Wednesday that it will make a minority investment in BBH Credit Partners, a newly formed unit of global financial advisory firm Brown Brothers Harriman.
Financial details of the deal were not disclosed.
Affiliated Managers said it will provide seed capital for a number of new structured and alternative credit products advised by BBH Credit Partners.
Brown Brothers Harriman had formed the unit to house its taxable fixed income and structured credit business.
Affiliated Managers said that through BBH Credit Partners, the two entities will offer structured and alternative credit solutions to US wealth clients and their advisors.
The investment is expected to be completed in Q1.
Affiliated Managers Group shares were up more than 1% in recent Wednesday premarket activity.