Two major investment firms are aiming at the $1.5 trillion global private debt market, bringing together their respective expertise in wealth management and asset management.
AlTi Global Inc. a Nasdaq-listed independent global wealth manager with more than $72 billion AUM plans to form a joint venture with Allianz X, enabling a strategic partnership with asset management business Allianz Global Advisors.
Earlier this year AlTi announced that Allianz X would invest up to $300 million in its business via one of its affiliates, alongside investment from Constellation Wealth Capital, to help it boost its presence in the ultra-high-net-worth wealth space.
“The formation of our JV with AlTi just months after our initial investment is a first building block of what we can achieve together in the expanding wealth management sector,” commented Nazim Cetin, CEO of Allianz X. “We’re poised to revolutionize access to the private markets, initially through private debt, and we are confident that investing alongside Allianz will unlock new opportunities for AlTi, Allianz, and the broader UHNW market segment.”
The JV is focused on providing a leading private markets offering for the ultra-high-net-worth wealth segment, initially centered on the private debt markets, and leveraging the experience of both firms' skilled managers. With the benefits of scale, the JV will offer low minimum ticket sizes.
Michael Tiedemann, CEO of AlTi Tiedemann Global, said the AlTi-Allianz Private Debt Program sets a new benchmark in the UHNW wealth management industry.
“We are delighted to offer our clients unique access to Allianz’s world-class network of third-party managers at attractive terms and with additional access to co-investments and secondaries,” he said. “We believe the combined resources of our platforms will provide current and prospective clients with an offering that is unmatched in the alternatives investment space.”
The program will invest in various strategies, regions, segments, and risk-return profiles with a semi-liquid evergreen structure. The formation of the JV is subject to the completion of definitive agreements and obtaining necessary regulatory approvals.
“Private debt’s diversification benefits, coupled with its attractive risk-adjusted returns, make it a compelling component to investors’ portfolios,” said Tobias Pross, CEO of Allianz Global Investors. “Through our strategic partnership, we are able to bring some of the best investment opportunities in private markets to the most discerning and dynamic owners of capital in the world. We believe this is only the beginning, as we seek to expand our joint offerings in private markets in the months and years to come.”
The wider Allianz business includes bond manager Pimco which saw strong inflows in recent months and helped the parent to expectation-beating results.
AI is no replacement for trusted financial advisors, but it can meaningfully enhance their capabilities as well as the systems they rely on.
Prudential's Jordan Toma is no "Finfluencer," but he is a registered financial advisor with four million social media followers and a message of overcoming personal struggles that's reached kids in 150 school across the US.
GReminders is deepening its integration partnership with a national wealth firm, while Advisor CRM touts a free new meeting tool for RIAs.
The Texas-based former advisor reportedly bilked clients out of millions of dollars, keeping them in the dark with doctored statements and a fake email domain.
The $3.3 trillion tax and spending cut package narrowly got through the upper house, with JD Vance casting the deciding vote to overrule three GOP holdouts.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.