Allianz X has formed an alliance with AlTi Global, an independent global wealth manager with combined assets of over $72bn, to establish a strategic partnership with Allianz Global Investors (AllianzGI), an active investment manager and an entirely subsidiary of Allianz SE, to develop a leading private market offering for the UHNW wealth segment.
AlTi and AllianzGI will establish a private markets investment programme for UHNW clients through their combined venture, utilising AllianzGI’s outstanding scale and network.
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The programme will offer access to top third-party managers with stellar performance histories, substantial scale advantages, low minimum ticket sizes, and increased investment options, such as secondaries and co-investments, by partnering with Allianz.
In addition to this, the programme will begin by focusing on the approximately $1.5trn global private debt market, using AllianzGI’s 25-year history and special expertise in this dynamic and rising asset class.
The AlTi-Allianz Private Debt Programme will be delivered through a semi-liquid evergreen structure geared to invest in all areas of the private debt markets, including diverse strategies, regions, segments, and risk-return profiles, as well as direct access to secondary and co-investments.
Michael Tiedemann, CEO of AlTi Tiedemann Global, stated: “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 alternative’s investment space.”
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By GlobalDataTobias Pross, CEO of Allianz Global Investors, added: “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, commented: “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 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.”
Moreover, the emergence of the joint venture and the start of the private debt programme are subject to the conclusion of formal agreements and the receipt of required regulatory approvals.
