Affiliated Managers explores sale of Comvest stake, Bloomberg reports

Affiliated Managers (AMG) is weighing the sale of its minority interest in Comvest Partners, an alternative asset manager that oversees roughly $15.7B, Bloomberg’s Gillian Tan and Matthew Monks report, citing people with knowledge of the matter. The company is working with an adviser to solicit interest in the stake, and any deal could value Comvest at $700M or more, the authors note. Shares of Affiliated Managers are up 2.8% in afternoon trading.