Deals and People

Retirement Industry People Moves

By Javier Simon | January 06, 2017
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AllianzGI Acquires Sound Harbor Partners

Active investment manager Allianz Global Investors (AllianzGI) has announced that U.S. private credit manager Sound Harbor Partners has agreed to join its private debt platform. Under the terms of the transaction, AllianzGI will acquire Sound Harbor’s assets for an undisclosed sum and the Sound Harbor team will join AllianzGI. Following the acquisition, expected to close within the first quarter of 2017, AllianzGI’s clients will be able to access U.S. private credit investment funds.

“Over the last five years, AllianzGI has invested steadily in the quality and breadth of its active investment offering,” says AllianzGI CEO Andreas Utermann. “Within our fast-growing alternatives segment, private debt stands out as a particularly exciting area, where we’ve clearly signaled 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.”

Sound Harbor is a New York-based private credit manager focused on alternative investments in corporate loans, direct lending, distressed debt and opportunistic credit. Led by Michael Zupon and Dean Criares, the firm manages these investments on behalf of its clients in private limited partnerships, collateralized 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.

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