AlTi Global, an independent global wealth and alternatives manager, has secured a strategic investment of up to $300m from Allianz X.
The investment comprises a $250m injection from Allianz X, the investment arm of Allianz SE, with an option for an additional $50m.
The company plans to use the new capital to fund its mergers and acquisitions pipeline and support organic growth initiatives. This expansion aims to enhance AlTi’s global presence in existing and new markets, leveraging the expertise and relationships of Allianz and Constellation Wealth Capital (CWC).
Earlier this year, AlTi received a $150m investment from CWC, an alternative asset management platform.
This previous funding facilitated the acquisitions of East End Advisors and Envoi, LLC in April and July, respectively. The collaboration with Allianz is expected to offer comprehensive solutions to service clients of both firms more effectively.
As part of the agreement, Andreas Wimmer, member of the board of management of Allianz SE, and Nazim Cetin, CEO of Allianz X, will join the AlTi board.
The terms of the deal included the sale of 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, amounting to $250m. Additionally, AlTi issued warrants for 5,000,000 shares of Class A common stock.
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