AlTi Tiedemann Global announces closing of previously announced strategic investment from Allianz X
AlTi Global, Inc. (NASDAQ: ALTI) has closed a strategic investment of $250 million from Allianz X, with an option for an additional $50 million. This is part of a larger $450 million investment that includes $150 million from Constellation Wealth Capital (CWC). The funds will be used to finance AlTi's mergers and acquisitions pipeline and organic growth activities, expanding its global ultra-high-net-worth wealth management and strategic alternatives business.
As part of the deal, AlTi sold 140,000 shares of Series A Cumulative Convertible Preferred Stock and 19,318,580.96 shares of Class A common stock. The partnership aims to enhance client services for both companies. Andreas Wimmer from Allianz SE and Nazim Cetin from Allianz X will join AlTi's board following the investment.
AlTi Global, Inc. (NASDAQ: ALTI) ha concluso un investimento strategico di 250 milioni di dollari da Allianz X, con un'opzione per ulteriori 50 milioni di dollari. Questo fa parte di un investimento complessivo di 450 milioni di dollari che include 150 milioni di dollari da Constellation Wealth Capital (CWC). I fondi saranno utilizzati per finanziare il pipeline di fusioni e acquisizioni di AlTi e le attività di crescita organica, espandendo la sua gestione patrimoniale per clienti ultra-ricchi a livello globale e il business delle alternative strategiche.
Come parte dell'accordo, AlTi ha venduto 140.000 azioni di Serie A di Azioni Preferenziali Convertibili Cumulative e 19.318.580,96 azioni ordinarie di Classe A. La partnership mira a migliorare i servizi ai clienti per entrambe le aziende. Andreas Wimmer di Allianz SE e Nazim Cetin di Allianz X entreranno nel consiglio di amministrazione di AlTi dopo l'investimento.
AlTi Global, Inc. (NASDAQ: ALTI) ha cerrado una inversión estratégica de 250 millones de dólares de Allianz X, con una opción para otros 50 millones de dólares. Esto forma parte de una inversión total de 450 millones de dólares que incluye 150 millones de dólares de Constellation Wealth Capital (CWC). Los fondos se utilizarán para financiar el pipeline de fusiones y adquisiciones de AlTi y las actividades de crecimiento orgánico, expandiendo su negocio de gestión de patrimonio para clientes ultra-altos a nivel global y alternativas estratégicas.
Como parte del acuerdo, AlTi vendió 140,000 acciones de acciones preferentes convertibles acumulativas de la Serie A y 19,318,580.96 acciones ordinarias de la Clase A. La asociación tiene como objetivo mejorar los servicios al cliente para ambas empresas. Andreas Wimmer de Allianz SE y Nazim Cetin de Allianz X se unirán a la junta directiva de AlTi tras la inversión.
AlTi Global, Inc. (NASDAQ: ALTI)는 Allianz X로부터 2억 5천만 달러의 전략적 투자를 마감했습니다, 추가로 5천만 달러의 옵션이 있습니다. 이는 Constellation Wealth Capital (CWC)로부터 1억 5천만 달러를 포함한 총 4억 5천만 달러의 투자 일부입니다. 자금은 AlTi의 인수 합병 파이프라인과 유기적 성장 활동을 위한 자금으로 사용될 것입니다, 전 세계의 초고액 자산 고객을 위한 자산 관리 및 전략적 대안 사업을 확장하는 데 활용됩니다.
이번 계약의 일환으로, AlTi는 시리즈 A 누적 전환 우선주 14만 주와 클래스 A 보통주 19,318,580.96 주를 판매했습니다. 파트너십은 두 회사 모두의 고객 서비스를 향상시키기 위한 것입니다. Allianz SE의 Andreas Wimmer와 Allianz X의 Nazim Cetin이 투자 후 AlTi의 이사회에 합류할 것입니다.
AlTi Global, Inc. (NASDAQ: ALTI) a conclu un investissement stratégique de 250 millions de dollars de la part d'Allianz X, avec une option pour 50 millions de dollars supplémentaires. Cela fait partie d'un investissement global de 450 millions de dollars, comprenant 150 millions de dollars de Constellation Wealth Capital (CWC). Les fonds seront utilisés pour financer le pipeline de fusions et d'acquisitions d'AlTi et les activités de croissance organique, en élargissant ses activités de gestion de patrimoine pour les clients ultra-riche à l'échelle mondiale et d'alternatives stratégiques.
Dans le cadre de l'accord, AlTi a vendu 140 000 actions de série A d'actions privilégiées convertibles cumulatives et 19 318 580,96 actions ordinaires de classe A. Le partenariat vise à améliorer les services à la clientèle pour les deux entreprises. Andreas Wimmer d'Allianz SE et Nazim Cetin d'Allianz X rejoindront le conseil d'administration d'AlTi après l'investissement.
AlTi Global, Inc. (NASDAQ: ALTI) hat eine strategische Investition in Höhe von 250 Millionen Dollar von Allianz X abgeschlossen, mit einer Option auf zusätzliche 50 Millionen Dollar. Dies ist Teil einer größeren Investition in Höhe von 450 Millionen Dollar, die 150 Millionen Dollar von Constellation Wealth Capital (CWC) umfasst. Die Mittel werden verwendet, um AlTis Pipeline für Fusionen und Übernahmen sowie organisches Wachstum zu finanzieren und das globale Management von ultrareichen Vermögenswerten sowie das Geschäft mit strategischen Alternativen auszubauen.
Im Rahmen des Geschäfts verkaufte AlTi 140.000 Aktien der Serie A kumulierte Wandelanleihen und 19.318.580,96 Aktien der Klasse A. Die Partnerschaft zielt darauf ab, die Kundenservices beider Unternehmen zu verbessern. Andreas Wimmer von Allianz SE und Nazim Cetin von Allianz X werden nach der Investition dem Vorstand von AlTi beitreten.
- Secured $250 million investment from Allianz X with option for additional $50 million
- Total strategic investment of up to $450 million including CWC's contribution
- Funds to be used for M&A pipeline and organic growth activities
- Partnership with Allianz offers opportunities to enhance client services
- Addition of two experienced board members from Allianz
- Potential dilution of existing shareholders due to issuance of new shares and warrants
Insights
AlTi Global's strategic investment from Allianz X marks a significant milestone in the company's growth trajectory. The
- Expansion Potential: The influx of capital positions AlTi to aggressively pursue its M&A pipeline and organic growth initiatives. This could lead to rapid expansion of its
$70 billion asset base, potentially elevating AlTi's status in the wealth and alternatives management sector. - Strategic Partnership: Allianz's involvement goes beyond mere financial investment. The appointment of two Allianz executives to AlTi's board suggests a deep strategic alliance. This partnership could open doors to Allianz's vast network of 125 million customers across 70 countries, providing AlTi with unprecedented access to new markets and client bases.
- Market Positioning: The deal structure, involving preferred stock, common stock and warrants, indicates a complex transaction designed to align interests while providing Allianz with significant upside potential. This structure could impact AlTi's stock dynamics and valuation metrics going forward.
Investors should closely monitor how AlTi deploys this capital, particularly its M&A strategy and the synergies realized from the Allianz partnership. The success of this investment could be a game-changer for AlTi's market position and long-term growth prospects.
The strategic investment in AlTi Global by Allianz X is a move that could reshape the competitive landscape of the wealth and alternatives management industry. Here's why this deal is particularly intriguing:
- Market Consolidation: This investment signals a trend towards consolidation in the fragmented wealth management sector. As larger players seek to expand their reach and capabilities, we may see more such strategic partnerships and acquisitions.
- Cross-Sector Synergies: The collaboration between a wealth manager (AlTi) and an insurance giant (Allianz) highlights the growing trend of cross-sector partnerships in financial services. This could lead to innovative product offerings that blend wealth management with insurance solutions.
- Ultra-High-Net-Worth Focus: AlTi's emphasis on the ultra-high-net-worth segment is particularly noteworthy. This niche market is highly competitive and lucrative, with significant growth potential globally. The Allianz partnership could provide AlTi with the resources and global reach to capture a larger share of this market.
From a market perspective, this deal could trigger a ripple effect, prompting other wealth management firms to seek similar strategic alliances to remain competitive. It also underscores the increasing importance of scale and diversification in the financial services industry. Investors should watch for potential shifts in market share and any new product offerings that may emerge from this partnership.
The strategic investment by Allianz X into AlTi Global presents several legal and regulatory considerations that investors should be aware of:
- Regulatory Scrutiny: Given the size and cross-border nature of this deal, it's likely to attract regulatory attention. The transaction may require approvals from financial regulators in multiple jurisdictions, potentially including antitrust reviews.
- Corporate Governance: The appointment of Allianz executives to AlTi's board raises questions about corporate governance. Investors should monitor how AlTi maintains its independence while benefiting from Allianz's expertise. There may be potential conflicts of interest that need to be carefully managed.
- Securities Issuance: The complex structure of the deal, involving preferred stock, common stock and warrants, has implications for existing shareholders. The issuance of new securities could lead to dilution and may affect voting rights and dividend policies.
- Disclosure Obligations: As a publicly traded company, AlTi will need to ensure transparent and timely disclosures about the use of funds and the progress of its expansion plans. This includes regular updates on material developments in its M&A activities and organic growth initiatives.
From a legal standpoint, this deal underscores the importance of robust compliance frameworks and clear governance structures in strategic partnerships. Investors should closely examine AlTi's future SEC filings for more details on the terms of the agreement and any potential risks associated with this significant transaction.
This investment is part of the previously announced strategic investment of up to
AlTi expects to use the capital principally to continue to fund its mergers and acquisitions pipeline and organic growth activities. This will expand the scale and reach of AlTi’s global ultra-high-net-worth wealth management and strategic alternatives business in existing and new markets, leveraging the industry expertise and relationships of both Allianz and CWC. The partnership with Allianz offers opportunities to provide additional solutions to service both companies’ clients more holistically.
In connection with the closing of the investment, Andreas Wimmer, Member of Board of Management of Allianz SE, Asset Management, US Life Insurance, and Nazim Cetin, Chief Executive Officer of Allianz X, will be appointed to the AlTi board.
Under the terms of the agreement AlTi sold 140,000 shares of newly created Series A Cumulative Convertible Preferred Stock and 19,318,580.96 shares of AlTi’s Class A common stock, for a purchase price equal to
About AlTi
AlTi Tiedemann Global is a leading independent global wealth manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi’s comprehensive offering is underscored by a commitment to impact or values-aligned investing. The firm currently manages or advises on over
About Allianz X
Allianz X invests in innovative growth companies in ecosystems relevant to insurance and asset management. It has a global portfolio of over 25 companies and assets under management of more than
On behalf of leading global insurer and asset manager Allianz Group, Allianz X provides an interface between Allianz companies and the broader ecosystem, enabling collaborative partnerships in insurtech, fintech, wealth, and beyond.
As an investor, Allianz X supports growth companies to take the next bold steps and realize their full potential.
Keep up with the latest at Allianz X on Medium, LinkedIn, and X (formerly Twitter).
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around
* Including non-consolidated entities with Allianz customers.
** As of March 31, 2024
Forward-Looking Statements
Some of the statements in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. Words such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “intend,” “may,” “plan” and “will” and similar expressions identify forward-looking statements. Forward-looking statements reflect management’s current plans, estimates and expectations and are inherently uncertain. The inclusion of any forward-looking information in this press release should not be regarded as a representation that the future plans, estimates or expectations contemplated will be achieved. Forward-looking statements are subject to various risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, global and domestic market and business conditions, successful execution of business and growth strategies and regulatory factors relevant to our business, as well as assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity and the risks and uncertainties described in greater detail under “Risk Factors” included in AlTi’s registration statement on Form 10-K filed March 22, 2024, as amended on April 5, 2024, and in the subsequent reports filed with the SEC, as such factors may be updated from time to time. We undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240731842155/en/
AlTi Global Investor Relations:
Lily Arteaga, Head of Investor Relations, investor@alti-global.com
AlTi Global Media Relations:
Alex Jorgensen, pro-alti@prosek.com
Allianz X Media Relations:
Gregor Wills, Head of PR & Communications, gregor.wills@allianz.com
Source: AlTi Global, Inc.
FAQ
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