Affiliated Managers Group Inc., an asset management holding company that acquires majority interests in midsize investment firms, went public Friday.

The initial offering of 7.5 million common shares, priced at $23.50, began trading at $25.75 per share. Trading under the symbol AMG on the New York Stock Exchange, it closed at $26.50. The offering was co-managed by Goldman, Sachs & Co., BT Alex. Brown Inc., Merrill Lynch & Co., and Schroder & Co.

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