Allianz X, an investment arm of insurer and asset manager Allianz SE, and Constellation Wealth Capital (CWC) will make a joint strategic investment of up to $450 million in AlTi Global (AlTi), a leading independent global wealth and alternatives manager.
Allianz X will invest $250 million through one of its affiliates using a combination of newly issued stock and newly created convertible preferred stock with an option to invest an additional $50 million. CWC, an investment advisory firm specializing in making investments in industry-leading wealth managers, will invest $150 million.
AlTi will use the capital to fund its mergers and acquisitions pipeline and organic growth activities, expanding the scale and reach of AlTi’s global ultra-high-net-worth wealth management and strategic alternatives business.
Allianz X is one of the world’s leading insurers and asset managers with more than 122 million private and corporate customers in over 70 countries and assets under management of more than €1.5 billion.
The S&C team advising Allianz X includes Andrew Gerlach, Lucas Carsley, Lucy Silver and Nicole Miller. David Spitzer and Michael Orchowski are advising on tax matters. Rick Wertheim is advising on investment management matters. Sarah Remmer Long and Julia Paranyuk are advising on executive compensation matters. William Bekker is advising on intellectual property matters.