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June 18, 2020

AllianceBernstein swoops on AnchorPath Financial

New York-based investment manager AllianceBernstein (AB) has purchased local peer AnchorPath Financial.

The transaction value was not revealed.

The deal adds over $400m in AUM to AB’s books.

AllianceBernstein has absorbed the AnchorPath Financial team, who has now become part of AB’s Multi-Asset Solutions business.

This includes AnchorPath principal Marshall Greenbaum, who has worked for 20 years with US insurers offering them risk protected solutions.

AnchorPath is said to combine proprietary, pro-active risk control with liquidity and transparency.

The business was set up in 2009.

According to its website, the firm uses systematic risk control techniques that remove the drawbacks seen in other alternative approaches and downside protected oriented strategies.

Commenting on the purchase, AB Multi-Asset Solutions head Daniel Loewy said: “Through this acquisition, AB adds another proven and differentiated investment capability to its risk-managed platform.

“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.”

AB offers investment services to institutional investors, individuals as well as private wealth clients.

The firm’s AUM at the end of March 2020 reached $542bn.

It had operations in 51 locations and staff headcount of 3,846 as of 31 December 2019.

In 2018, AllianceBernstein was in the news for launching a strategy that will mainly invest in subordinated financial institution debt including additional tier 1 bonds that are used to strengthen capital position.

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