Allianz X and AlTi Tiedemann Global forge unique joint venture to pioneer UHNW wealth access to private markets alongside Allianz’s balance sheet investments powered by Allianz Global Investors
– Partnership leverages Allianz’s position as one of the world’s largest allocators to private markets via Allianz Global Investors
– Initially focused on private debt, AlTi’s ultra-high-net-worth (“UHNW”) clients and select institutional investors will be able to invest in top tier managers, strategies and deals alongside Allianz’s balance sheet
– Partnership is positioned to drive the democratization of private markets in the UHNW wealth segment and enables Allianz Global Investors to strategically increase access to its $100bn+ AuM private markets platform
– Partnership is structured through JV with Allianz X, which follows its strategic investment of up to $300mn in AlTi closed in July this year
MUNICH & NEW YORK–(BUSINESS WIRE)–Allianz X today announced a joint venture (“JV”) with AlTi Global, Inc. (NASDAQ: ALTI) (“AlTi” or the “Company”), a leading independent global wealth manager with over $72 billion in combined assets, enabling it to form a strategic partnership with Allianz Global Investors (“AllianzGI”), one of the world’s leading active investment managers and a wholly owned subsidiary of Allianz SE (XETRA: ALV), to create a leading private markets offering for the UHNW wealth segment.
Through the joint venture, AlTi and AllianzGI will launch a private markets investment program for UHNW clients that will benefit from AllianzGI’s exceptional network and scale. By investing alongside Allianz, the program will provide unprecedented access to leading third-party managers with outstanding track records, significant scale benefits, low minimum ticket sizes, and expanded investment opportunities, including secondaries and co-investments.
The program will initially focus on the approximately $1.5 trillion global private debt market1, leveraging AllianzGI’s long-standing and strong track record in private markets for over 25 years, and unique position in this dynamic and growing asset class. The wider Allianz Group, including AllianzGI, is one of the largest private debt investors worldwide.
Michael Tiedemann, CEO of AlTi Tiedemann Global, 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.”
Tobias Pross, CEO of Allianz Global Investors, said: “For ultra-high-net-worth individuals and select institutional investors, diversification beyond the public financial markets can help to preserve and grow capital. 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.”
Nazim Cetin, CEO of Allianz X, said: “This partnership is a powerful demonstration of Allianz X’s prowess as a strategic investor and business builder – for its partner companies and the Allianz Group. 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 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 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.
The formation of the joint venture and the launch of the private debt program are contingent upon the completion of definitive agreements and obtaining necessary regulatory approvals.
About AlTi
AlTi Tiedemann Global is a leading independent global wealth manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi’s comprehensive offering is underscored by a commitment to impact or values-aligned investing. The firm currently manages or advises on over $72 billion in combined assets and has an expansive network with approximately 400 professionals across three continents. For more information, please visit us at www.Alti-global.com.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 600 investment professionals in over 20 offices worldwide and managing EUR 555 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
Data as at 30 June 2024. Total assets under management are assets or securities portfolios, valued at current market value, for which Allianz Global Investors companies are responsible vis-á-vis clients for providing discretionary investment management decisions and portfolio management, either directly or via a sub-advisor (these include Allianz Global Investors assets which are now sub-advised by Voya IM since 25 July 2022). This excludes assets for which Allianz Global Investors companies are primarily responsible for administrative services only. Assets under management are managed on behalf of third parties as well as on behalf of the Allianz Group.
About Allianz X
Allianz X invests in innovative growth companies in ecosystems relevant to insurance and asset management. It has a global portfolio of around 25 companies and assets under management of about 1.7 billion euros. Allianz X has counted 12 unicorns among its portfolio so far. The heart, brains, and drive behind it all are a talented team of around 40 people in Munich and New York.
On behalf of leading global insurer and asset manager Allianz Group, Allianz X provides an interface between Allianz companies and the broader ecosystem, enabling collaborative partnerships in insurtech, fintech, wealth, and beyond.
As an investor, Allianz X supports growth companies to take the next bold steps and realize their full potential.
Keep up with the latest at Allianz X on Medium, LinkedIn, and X (formerly Twitter).
1 https://www.morganstanley.com/ideas/private-credit-outlook-considerations.
Contacts
AlTi Tiedemann Global Investor Relations:
Lily Arteaga, Head of Investor Relations, [email protected]
AlTi Tiedemann Global Media Relations:
Alex Jorgensen, [email protected]
Allianz Global Investors Media Relations:
Marion Leblanc-Wohrer
Mobile +33 6 85 15 74 54
[email protected]
Pia Groeger
Mobile +49 173 358 6167
[email protected]
Allianz X Media Relations:
Allianz X Communications, [email protected]
