Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:With a Deal's Close, a $322B-AUM Firm Gains a Backer Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 26, 2022

With a Deal's Close, a $322B-AUM Firm Gains a Backer

Reported by Neil Anderson, Managing Editor

Fresh from a big, $101-billion-AUM acquisition that was in the works for 69 days, a publicly traded U.S. firm's asset management arm now has about $322 billion in AUM (on a pro forma basis as of June 30) and a new minority backer.

Christine Hurtsellers
Voya Financial
CEO, Investment Management
Yesterday, Rod Martin, chairman and CEO of Voya Financial, Inc., and Tobias Pross, CEO of Allianz Global Investors [profile], confirmed that Voya Investment Management [profile] has purchased the bulk of AllianzGI's U.S. business and brought over the bulk of AllianzGI's U.S. investment teams. Allianz Group (AllianzGI's parent) now owns 24 percent of Voya IM, while Voya itself owns the remaining 76 percent. And per the new strategic partnership, AllianzGI will distribute Voya IM's offerings outside the U.S. and Canada.

Goldman Sachs & Co. LLC, PJT Partners, and BMO Capital Markets advised Voya on the deal. Cleary Gottlieb Steen & Hamilton LLP provided legal counsel to Voya.

A possible deal was first unveiled (via a memorandum of understanding) back in May when AllianzGI settled with the SEC over securities fraud charges. Then the AllianzGI and Voya teams made the engagement official last month. (At the time, the deal was expected to boost Voya IM's AUM by about 48 percent.)

"We are very pleased to have reached today's closing, with the successful transfer of investment teams and assets in a very compressed timeframe. We are grateful and humbled," Pross stated. "We look forward to making the most of the opportunities presented by our partnership with Voya IM."

"In addition to welcoming the talented, highly complementary investment teams to Voya, we look forward to continuing to work closely with AllianzGI through our new, highly strategic, long-term international distribution partnership, which will enable us to provide diverse investment strategies that meet the needs of an even larger, more global client base," Martin stated. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use