Voya Financial and Allianz Global Investors announce plans to enter long-term strategic partnership, including...
- Planned partnership to include:
- Transitioning specified Allianz Global Investors (Allianz GI) U.S. investment teams and assets under management to Voya Investment Management (Voya IM), increasing Voya IM's AUM to approximately $370 billion on a pro forma basis.
- Establishing a long-term strategic-distribution partnership whereby AllianzGI will distribute Voya IM investment strategies outside the U.S.
- Providing AllianzGI with an up to 24% stake in Voya IM.
Voya Financial, Inc. VOYA (Voya), announced today that it has entered into a memorandum of understanding (MOU) relating to AllianzGI's transfer of selected investment teams and assets comprising the substantial majority of its U.S. business (AGI U.S.) to Voya IM, Voya's asset management business. The planned strategic partnership is being disclosed in anticipation of a definitive purchase agreement being finalized in the coming weeks, consistent with the timetable announced today for AllianzGI's plans to divest AGI U.S.
Under the proposed transaction, Voya IM will acquire AGI U.S.'s highly complementary and internationally established equity and fixed income investment teams, select client service and sales professionals, and approximately $120 billion of assets under management (AUM), which consist of income and growth, fundamental equity, and private placement assets. On a pro forma basis and based on AUM as of March 31, 2022, Voya IM's AUM would increase to approximately $370 billion.
The terms of the MOU include a long-term strategic-distribution partnership whereby AllianzGI would distribute Voya IM's investment strategies outside the U.S. This arrangement will allow Voya IM to benefit from AllianzGI's diverse, global reach, and enable Voya IM to offer its attractive U.S. asset-based investment strategies to an even larger client base.
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