Affiliated Managers Group (AMG) is an asset management company that owns interests in more than 30 boutique investment management firms in North America, Europe, and Asia. Together, the firm's affiliates manage nearly $630 billion in assets and offer more than 500 investment products, including more than 200 mutual funds. AMG typically acquires majority stakes in its affiliates, which cater to institutional investors and wealthy individuals. The structure allows affiliates to retain partial ownership of their firms and operate with relative autonomy. AMG usually allocates a percentage of revenues to affiliates for operating expenses, such as compensation.