Allianz and AlTi join forces on UHNW private debt program
Allianz X, an investment subsidiary of global insurer and asset manager Allianz, has partnered with wealth manager AlTi Global to launch a private markets investment program for ultra-high-net-worth individuals (UHNWIs), starting with private debt.
The program will be provided through Allianz Global Investors (AllianzGI), with Allianz X providing the interface between Allianz companies and the broader ecosystem.
The new joint venture will initially focus on the approximately $1.5trn (£1.16trn) global private debt market, leveraging AllianzGI’s 25-year track record in private markets.
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The AlTi-Allianz private debt program is set to be offered by a semi-liquid evergreen structure designed to invest in all aspects of the private debt markets, covering various strategies, regions, segments, and risk-return profiles, including direct access to secondaries and co-investments.
“For ultra-high-net-worth individuals and select institutional investors, diversification beyond the public financial markets can help to preserve and grow capital,” said Allianz Global Investors chief executive Tobias Pross. “Private debt’s diversification benefits, coupled with its attractive risk-adjusted returns, make it a compelling component to investors’ portfolios.
“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.”
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Allianz X chief executive Nazim Cetin said: “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. We’re poised to revolutionise 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.”
AlTi Tiedemann Global chief executive Michael Tiedemann said: “Our 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. 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.”
AlTi Tiedemann Global currently manages or advises on over $72bn in combined assets and has an expansive network with approximately 400 professionals across three continents.
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