AllianceBernstein (AB) and AllianceBernstein Holding (AB Holding), a research and global investment firm, is to acquired CarVal Investors (CarVal), a global private alternatives investment manager with approximately USD14.3 billion in assets under management, primarily focused on opportunistic and distressed credit, renewable energy infrastructure, specialty finance and transportation investments.
The acquisition represents an important step forward in AB’s continued goal of better serving its clients by building and growing its world-class Private Alternatives business. The addition of CarVal, with 190 employees, including 68 investment professionals, in five offices across four countries, enhances AB’s Private Alternatives platform by adding complementary investment capabilities in opportunistic and private credit and expanding across multiple geographic regions, including North America, Europe, Latin America, and Asia.
As clients increasingly look to private market strategies for return and yield enhancement, as well as diversification, CarVal brings complementary private markets capabilities to AB’s Private Alternatives business. The addition of CarVal now expands AB’s private markets capabilities to encompass almost USD50 billion in AUM on a pro forma basis.
CarVal’s senior leadership team will continue to lead the firm And its teams will remain independent, continuing to operate from its Minneapolis, Minnesota, headquarters and offices around the world, with no change to the current investment process or personnel.
