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Alternative Market Briefing

Intel hires AllianceBernstein to manage alternative investment portfolio

Monday, June 15, 2015

Komfie Manalo, Opalesque Asia:

Intel, the Santa Clara, California-based chipmaker, has hired AllianceBernstein to manage its two alternative investment portfolios, a custom target-date series and a global diversified fund, which had previously been managed internally.

AllianceBernstein took over the investment management duties on April 30, following Intel’s RFP last year, according to The global diversified fund has $5.82bn assets, or 87% of the assets of the $6.66bn Intel Retirement Contribution Plan, a profit-sharing plan. The target-date series, with $3.63bn in assets, is the largest component of Intel's $8.19bn 401(k) plan.

Stuart Odell, Intel’s assistant treasurer, retirement investments, told that hiring AllianceBernstein "represents an opportunity to enhance our investment strategy." He added, "AllianceBernstein is a large asset manager with a lot of experience. We want them to bring their investment ideas to our portfolio."

Intel is one of the most aggressive users of alternatives among DC plans, the paper observed.

Intel Corp. is Oregon’s largest private employer, with nearly 18,000 employees who rely on the company’s three reti......................

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