On June 17, 2016, AllianceBernstein LP announced that it signed a letter of intent to acquire and assume management of Visium Asset Management LP’s Global Fund.
AllianceBernstein LP (“AB”) plans to purchase and take over management of the Visium Global Fund, a multisector long/short equity hedge fund managed by Visium Asset Management LP (“Visium”). Although the specific details of the deal have not been announced, Visium Global Fund’s investment team will join AB, along with some support staff from Visium. The transaction is subject to completing due diligence, reaching final agreement on transaction documentation and meeting customary closing conditions.
AllianceBernstein is a global investment management firm that provides research and investment services to institutional, individual and retail investors. As of May 31, 2016, AllianceBernstein had $487 billion in assets under management.
As of March 31, 2016, AB Holding owned approximately 36.4% of the issued and outstanding shares in AB, and AXA owned the remaining 63.2%.
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