On February 22, 2024, Seward & Kissel client AlTi Global, Inc. announced a strategic investment from Allianz X and Constellation Wealth Capital.
AlTi Global, Inc. (“AlTi”) announced on February 22, 2024, that it had reached an agreement to receive a strategic investment of up to $450 million from Allianz X and Constellation Wealth Capital (“CWC”). AlTi will use the capital principally to fund its mergers and acquisitions pipeline and organic growth activities. Further terms of the transaction were not disclosed.
AlTi (NASDAQ: ALTI), based in New York, is a global wealth and alternatives manager providing entrepreneurs, multi-generational families, and institutions with fiduciary capabilities, alternative investment strategies and advisory services. As of September 2023, AlTi had $68 billion in assets under management and advisement. Oppenheimer & Co. acted as exclusinve financial advisor to AlTi in connect ion with the transaction.
Allianz X, based in Munich, Germany, is an investment arm of Allianz SE (XETRA: ALV), an insurer and asset manager. Allianz X focuses on late-stage investments in digital growth companies relevant to insurance and asset management. As of November 2023, Allianz X had $1.5 billion in assets under management. Ardea Partners LP served as exclusive financial advisor to Allianz X in connection with the transaction.
CWC, based in Chicago, is an alternative asset management platform dedicated to the wealth management sector. CWC is minority-backed by Black Owl Capital Investments (NYSE: OWL) (“Black Owl”). As of September 2023, Black Owl had $157 billion in assets under management.
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