AllianceBernstein Completes Acquisition of Global Private Alternatives Manager CarVal Investors


NASHVILLE, Tenn., July 1, 2022 /PRNewswire/ — AllianceBernstein Holding LP (NYSE:AB) and AllianceBernstein LP, a leading global investment management and research firm, today announced that they have completed the acquisition of CarVal Investors (“CarVal”) . AB announced its intention to acquire CarVal on March 17, 2022.

Based at Minneapolis, Minnesota.CarVal is a global private alternative investment manager with approximately $15 billion in assets under management (“AUM”)(1)primarily focused on opportunistic and distressed credits, renewable energy infrastructure, specialized finance and transport investments.

“We are delighted to complete this acquisition of global manager CarVal Investors, which extends AB’s private markets platform to $50 billion of AUM, underscoring our commitment to accelerating the growth of our Private Alternatives business, together with our partner Equitable,” said AB’s Chief Executive Officer. Seth Bernstein. “From CarVal’s unwavering commitment to its clients to their collaborative culture and dynamic leadership, this acquisition strongly aligns with our firm’s strategic priorities. We look forward to all that we will accomplish together as one team.

Following the announcement in March, client activity and fundraising momentum have been strong, with over $2.1 billion raised by CarVal through their diverse product range.

Effective today, CarVal has officially been renamed AB CarVal Investors. For more information on the acquisition, please see the March press release.

(1) AUM of CarVal composed of approximately $11.7 billion in remunerated outstandings and $3.7 billion in eligible assets under management. AB’s pro forma AUM consisting of approximately $37.6 billion in remunerated outstandings and $12.6 billion in eligible assets under management. Numbers may not add up due to rounding. Figures at May 31, 2022.

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that provides high-quality, diversified research and investment services to institutional investors, individuals and private wealth clients in major global markets. From May 2022AllianceBernstein had $687 billion in assets under management. Additional information about AB is available on our website,

Cautions Regarding Forward-Looking Statements

Various statements contained in this press release relating to AB’s acquisition of CarVal are “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. Such statements, which are subject to risks, uncertainties and other factors that could cause results to differ materially from future results expressed or implied by such forward-looking statements, relate to expected growth, customer growth and shareholder benefits, key assumptions, revenue realization, benefits or financial returns and the costs of growth and integration. The most important transactional and other risk factors that could cause actual results to differ materially from future results expressed or implied by our forward-looking statements include, among other risks disclosed in AB’s public filings with from the United States Securities and Exchange Commission: the completion and integration of the Acquisition could have an adverse impact on CarVal’s business activities (including the threat or actual loss of employees, customers or suppliers); and the anticipated benefits of the transaction, including revenue realization, accretion, and financial benefits or returns, may not be fully realized or may take longer to be realized than expected, including if the AB Units due be issued after the date hereof are trading at a price below expected levels. We advise readers to carefully consider these factors.

Further, these forward-looking statements speak only as of the date such statements are made; we undertake no obligation to update forward-looking statements to reflect events or circumstances after the date of such statements. For additional information regarding these forward-looking statements and factors that could cause actual results to differ, see “Risk Factors” and “Cautions Regarding Forward-Looking Statements” in AB’s Form 10-K for the financial year ended December 31, 2021, and the following 10 Q forms. Any or all of the forward-looking statements made in this press release, Form 10-K, Form 10Qs, other documents we file with or provide to the SEC, and any other public statements we issue, may prove to be incorrect. . It is important to remember that factors other than those listed under “Risk Factors” and “Cautionary Notes Regarding Forward-Looking Statements” and those listed above, could also adversely affect our revenues, our financial condition, results of operations and business prospects.

SOURCE AllianceBernstein


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