BOSTON (Reuters) – Affiliated Managers Group Inc (AMG.N), a holding company for money managers, said on Wednesday that it would buy British private equity fund-of-funds manager Pantheon Ventures from Northwestern Mutual Life Insurance Co NMLIC.UL for $775 million.

AMG shares rose almost 9 percent on news of the Boston company’s latest overseas deal, which Chief Executive Officer Sean Healey said would not be its last.

“We continue to see opportunities in boutique firms around the world,” Healey told Reuters. “We would not hesitate to make additional investments of this size or larger.”

London-based Pantheon manages about $22 billion of assets for more than 300 clients, including pension funds, endowments, governments and insurers.

AMG said Pantheon management would own a “meaningful stake” in the business and remain in charge of day-to-day operations, and 21 Pantheon management partners will enter into long-term employment contracts.

AMG said it would use cash and an existing credit facility to fund the purchase. The purchase price may increase, depending on how large Pantheon’s business becomes, the company added. It expects to close the transaction in the second quarter.

Last week, AMG said its affiliates had overseen about $231 billion of assets as of December 31.

The company owns stakes in Third Avenue Management, hedge fund firm AQR Capital Management, and other entities.

AMG shares were up 8.8 percent at $67.95 in late-morning trading on the New York Stock Exchange.

(Reporting by Jonathan Stempel and Ross Kerber, editing by Maureen Bavdek and Lisa Von Ahn)

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