AllianceBernstein announces the launch of interval fund AB CarVal Credit Opportunities Fund
AllianceBernstein (NYSE: AB) has launched the AB CarVal Credit Opportunities Fund (ABAYX), an unlisted, closed-end interval fund. The fund aims to outperform high-yield bonds with less volatility and lower correlation to public markets. It invests in a mix of public and private credit across the US and Europe, including aircraft leasing, specialty finance, and energy transition investments.
The fund is managed by AB CarVal Principal John Withrow and Managing Director Roger Newkirk, supported by Managing Principals James Ganley, Jody Gunderson, and Lucas Detor. This launch expands AB's Private Markets platform, which now represents over $64 billion in assets. The interval fund structure makes this strategy accessible to individual investors with low minimums, previously to institutional clients.
AllianceBernstein (NYSE: AB) ha lanciato il Fondo AB CarVal Credit Opportunities (ABAYX), un fondo chiuso non quotato a intermittenza. L'obiettivo del fondo è superare i rendimenti dei bond ad alto rendimento con una minore volatilità e una bassa correlazione ai mercati pubblici. Investì in un mix di credito pubblico e privato negli Stati Uniti e in Europa, inclusi investimenti in leasing di aeromobili, finanziamenti specializzati e transizioni energetiche.
Il fondo è gestito da John Withrow, Principal di AB CarVal, e da Roger Newkirk, Managing Director, supportati dai Managing Principals James Ganley, Jody Gunderson e Lucas Detor. Questo lancio espande la piattaforma Private Markets di AB, che ora rappresenta oltre $64 miliardi in attivi. La struttura del fondo a intermittenza rende questa strategia accessibile agli investitori individuali con minimi bassi, precedentemente riservati ai clienti istituzionali.
AllianceBernstein (NYSE: AB) ha lanzado el Fondo AB CarVal Credit Opportunities (ABAYX), un fondo cerrado no cotizado con intervalos. El objetivo del fondo es superar los bonos de alto rendimiento con menos volatilidad y menor correlación con los mercados públicos. Invierte en una mezcla de créditos públicos y privados en Estados Unidos y Europa, incluyendo arrendamiento de aeronaves, financiación especializada e inversiones en transición energética.
El fondo es dirigido por John Withrow, Principal de AB CarVal, y Roger Newkirk, Director General, apoyados por los Principales Managing James Ganley, Jody Gunderson y Lucas Detor. Este lanzamiento amplía la plataforma de Mercados Privados de AB, que ahora representa más de $64 mil millones en activos. La estructura del fondo a intervalos facilita que esta estrategia sea accesible a los inversores individuales con mínimos bajos, anteriormente solo para clientes institucionales.
AllianceBernstein (NYSE: AB)는 AB CarVal Credit Opportunities Fund (ABAYX)를 출시했습니다. 이 펀드는 상장되지 않은 폐쇄형 간헐적 펀드입니다. 펀드의 목표는 고수익 채권보다 더 나은 성과를 내고 시장의 변동성과 낮은 상관관계를 갖는 것입니다. 이는 미국과 유럽 전역에서 공공 및 민간 신용 과 함께 항공기 임대, 전문 금융 및 에너지 전환 투자에 투자합니다.
이 펀드는 AB CarVal의 John Withrow 및 전무이사 Roger Newkirk가 관리하며, Managing Principals인 James Ganley, Jody Gunderson, Lucas Detor가 지원합니다. 이 출시로 AB의 Private Markets 플랫폼이 확장되어 현재 $640억 이상의 자산을 대표합니다. 간헐적 펀드 구조를 통해 이 전략이 최소 자금으로 개인 투자자에게 접근 가능하게 되며, 이는 이전에 기관 투자자에게만 해당되었습니다.
AllianceBernstein (NYSE: AB) a lancé le Fonds AB CarVal Credit Opportunities (ABAYX), un fonds fermé non coté à intervalles. L'objectif du fonds est de dégrader les obligations à haut rendement avec moins de volatilité et une faible corrélation avec les marchés publics. Il investit dans un mélange de crédits publics et privés aux États-Unis et en Europe, y compris le leasing d'avions, le financement spécialisé et les investissements dans la transition énergétique.
Le fonds est géré par John Withrow, Principal d'AB CarVal, et Roger Newkirk, Directeur Général, soutenus par les Principaux Managing James Ganley, Jody Gunderson et Lucas Detor. Ce lancement élargit la plateforme Private Markets d'AB, qui représente désormais plus de 64 milliards de dollars d'actifs. La structure du fonds à intervalles rend cette stratégie accessible aux investisseurs individuels avec des montants d'investissement faibles, auparavant réservés aux clients institutionnels.
AllianceBernstein (NYSE: AB) hat den AB CarVal Credit Opportunities Fund (ABAYX) ins Leben gerufen, einen nicht börsennotierten, geschlossenen Intervallfonds. Das Ziel des Fonds ist es, Hochzinsanleihen mit weniger Volatilität und einer geringeren Korrelation zu öffentlichen Märkten zu übertreffen. Er investiert in eine Mischung aus öffentlichen und privaten Krediten in den USA und Europa, einschließlich Flugzeugleasing, Spezialfinanzierung und Investitionen in die Energieumstellung.
Der Fonds wird von John Withrow, Principal bei AB CarVal, und Roger Newkirk, Geschäftsführer, geleitet, unterstützt von den Managing Principals James Ganley, Jody Gunderson und Lucas Detor. Mit diesem Launch wird die Private Markets-Plattform von AB erweitert, die nun über $64 Milliarden an Vermögenswerten verfügt. Die Struktur des Intervallfonds macht diese Strategie für private Anleger mit niedrigen Mindestbeträgen zugänglich, die zuvor institutionellen Investoren vorbehalten waren.
- Launch of AB CarVal Credit Opportunities Fund (ABAYX) targeting outperformance of high-yield bonds
- Expansion of AB's Private Markets platform to over $64 billion in assets
- Increased accessibility of the strategy to individual investors through interval fund structure
- Diversification through global investment opportunities in public and private credit
- None.
Insights
AllianceBernstein's launch of the AB CarVal Credit Opportunities Fund (ABAYX) marks a significant expansion in their product offerings. This interval fund aims to outperform high-yield bonds with lower volatility and reduced correlation to public markets, potentially offering investors a unique diversification tool.
The fund's strategy of investing in both public and private credit across the US and Europe, including niche areas like aircraft leasing and energy transition investments, could provide attractive risk-adjusted returns in the current market environment. By making this previously institutional-only strategy available to individual investors with low minimums, AB is democratizing access to sophisticated credit investments.
This launch aligns with the broader trend of asset managers expanding their alternative offerings to meet growing investor demand for non-correlated returns in a challenging market landscape. The success of this fund could significantly impact AB's asset growth and revenue diversification in the coming years.
The launch of AB CarVal Credit Opportunities Fund reflects a growing market trend towards alternative investments and private credit strategies. This move by AllianceBernstein is likely a response to increasing investor appetite for diversified, non-traditional income sources in a low-yield environment.
By offering this product to individual investors, AB is tapping into the retail market segment, which has been increasingly interested in accessing institutional-quality alternative investments. This could potentially lead to a significant inflow of capital from a new investor base, boosting AB's assets under management.
The fund's focus on areas like specialty finance and energy transition investments also aligns with current market themes, potentially attracting investors looking for exposure to these sectors. However, the success of this fund will largely depend on its ability to deliver on its promise of outperformance and lower volatility in a competitive landscape.
The Credit Opportunities Fund seeks to outperform high-yield bonds over time with less volatility and lower correlation to public markets. AB CarVal Principal John Withrow and AB CarVal Managing Director Roger Newkirk will oversee day to day investment decisions, supported by AB CarVal Managing Principals James Ganley, Jody Gunderson, and Lucas Detor.
"Given the continued evolution in credit markets, we believe this strategy offers unique diversification through a broader set of global investment opportunities," said AB's Head of Private Alternatives Matthew Bass. "The AB CarVal Credit Opportunities Fund represents an important addition to AB's ultimate goal of helping clients navigate the many complexities of the current market environment through AB CarVal's global sourcing, origination capabilities, and innovative vehicles."
The fund invests in a mix of public and private credit across the US and
"This marks another milestone in expanding our Private Markets platform, which represents more than
AB acquired CarVal Investors in July 2022, expanding AB's global private markets platform. Today's interval fund launch follows AB CarVal's August 2023 announcement of the close of CVI Clean Energy Fund II with
About AllianceBernstein
AllianceBernstein is a leading global investment management firm that offers diversified investment services to institutional investors, individuals, and private wealth clients in major world markets. As of August 31, 2024, AllianceBernstein had
About AB CarVal
AB CarVal is an established global alternative investment manager and part of AllianceBernstein's Private Alternatives business. Since 1987, AB CarVal's team has navigated through ever-changing credit market cycles, opportunistically investing
*As of June 30, 2024. AUM is comprised fee-earning AUM and fee-eligible AUM. Fee-earning AUM includes those assets currently qualified to generate management fees. Fee-eligible AUM includes capital that is committed to an AB CarVal Fund but is currently uncalled or recallable. The number represented here excludes assets under AB CarVal's management that are not generating management fees due to the maturity of the Fund but includes amounts that do not generate management fees solely due to AB CarVal's decision not to charge management fees.
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SOURCE AllianceBernstein
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