Affiliated Managers Group, a global asset management company, has agreed to acquire a majority equity interest in Veritas Asset Management, the firm announced today.

The terms of the transaction were not disclosed.

Founded in 2003, Veritas is an independent global and Asian equity manager. The firm has offices in London and Hong Kong, and manages approximately $17 billion across funds and segregated portfolios for institutional and retail clients.

Four partners lead Veritas. Charles Richardson is chairman and fund manager, and Andy Headley is fund manager and head of global, the two lead the global equity business. Ezra Sun is fund manager and head of Asia, and Richard Grant serves as chief operating officer. They will continue to hold a substantial portion of equity in the business and continue to direct its day-to-day operations after the transaction closes, according to the announcement.