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AllianzGI to acquire Sound Harbor Partners

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Allianz Global Investors (AllianzGI) is to add Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, to its private debt platform.

AllianzGI will acquire Sound Harbor’s assets for an undisclosed sum and the Sound Harbor team will join AllianzGI.
 
The Sound Harbor team will become part of the AllianzGI global investment platform, maintaining the integrity of its investment strategy, process and team while accessing insights and knowledge-sharing among colleagues across the platform.
 
Andreas Utermann (pictured), chief executive and global chief investment officer of AllianzGI, says: “Over the last five years, AllianzGI has invested steadily in the quality and breadth of its active investment offering. Within our fast-growing Alternatives segment, private debt stands out as a particularly exciting area, where we’ve clearly signalled our intent to expand our capabilities to address our clients’ evolving investment needs. The addition of the team from Sound Harbor is a significant step in that process, strengthening and complementing our existing capabilities in this important space.”
 
Deborah Zurkow, head of alternatives at AllianzGI, says: "We are very excited the Sound Harbor team are joining our expanding private debt platform. We continue to see strong demand from our clients for access to a diverse range of illiquid alternatives solutions. Sound Harbor's expertise enhances AllianzGI’s existing global Alternatives capability, which includes infrastructure debt and a fast-growing corporate loans capability in Paris, underlining our desire to establish ourselves as one of the most prominent private debt managers globally.”
 
Sound Harbor is a New York-based private credit manager focused on alternative investments in corporate loans, direct lending, distressed debt and opportunistic credit. The firm manages these investments on behalf of its clients in private limited partnerships, collateralised loan obligations and separately managed accounts.  
 
Zupon is a former partner at The Carlyle Group where he founded and led the leveraged finance business. Criares is a former partner of The Blackstone Group where he founded and led the loan management business. The transaction is expected to close in the first quarter of 2017.

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