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Laxman Pai, Opalesque Asia: The global investment management firm AllianceBernstein (AB) has acquired Stamford, Connecticut-based boutique AnchorPath Financial, adding around $400m in assets under management.
Financial terms of the deal were not disclosed. AnchorPath is an investment management firm founded in 2009. It has developed a cost-effective strategy that integrates proprietary, pro-active risk control while providing liquidity and transparency.
"Through this acquisition, AB adds another proven and differentiated investment capability to its risk-managed platform," said Daniel Loewy, head of AB multiasset solutions, in a news release announcing the deal.
"AnchorPath uses a unique lens to construct solutions that enable funds to outperform relevant indexes with decreased downside risk and will benefit from AB's distribution expertise," Daniel said.
The AnchorPath team recently joined AllianceBernstein's Multi-Asset Solutions business, which helped lead to the addition of more than $400m of assets under management. AnchorPath's principal, Marshall Greenbaum, also joined AllianceBernstein as part of the acquisition.
AB had $596 billion in assets under management as of May 30.
As of March 31, 2020, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.9% of AllianceBernstein and Equitable Holdings, Inc. (EQH), directly and through various subsidiarie...................... To view our full article Click here
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