AllianzGI and Voya Financial announce plans to enter long-term strategic partnership

Allianz Global Investors (“AllianzGI”) announced today that it had entered into a memorandum of understanding (“MOU”) with Voya Financial relating to a strategic partnership whereby AllianzGI would transfer selected investment teams and assets comprising most of its US business (“AGI US”) to Voya Investment Management (“Voya IM”) in return for an up to 24% equity stake in the enlarged asset manager.  Definitive documentation is anticipated to be finalised in the coming weeks, and completion of the transaction is subject to customary closing conditions.  

Underpinning the partnership will be the anticipated transfer of highly complementary and internationally established investment teams, select client service and sales professionals, and associated assets under management from AGI US to Voya IM. The in-scope investment teams, which include income & growth, fundamental equities and private placements, manage approximately $120bn. On a pro forma basis, Voya IM’s AUM would increase to approximately $370 bn1.  The addition of AllianzGI’s income & growth, fundamental equities and private placement teams would complement Voya IM’s existing capabilities and investment platforms, including fixed income and alternatives. Following completion of the transfer, US vehicles and clients of the transferred investment teams will continue to be managed and advised by those teams.  

A second, important pillar of the planned partnership will be the establishment of a global, long-term, strategic-distribution partnership whereby AllianzGI distribute Voya IM’s investment strategies outside the US, providing its global client base with a broader range of complementary investment strategies.

As consideration for the transfer of assets, AllianzGI will receive an equity stake in Voya IM of up to 24% of the enlarged US manager.

Commenting on the announcement, Tobias C. Pross, CEO of AllianzGI, said: 

“We are very much looking forward to beginning a new chapter in AllianzGI’s development with a partner in the U.S. that complements our own strengths and footprint, and supports long-term growth for both firms. AllianzGI’s stake in Voya IM will underscore our commitment to the global success of their soon-to-be enlarged business.”

Further details of the transaction will be announced upon execution of definitive agreements. AllianzGI and Voya are working expeditiously to finalize the terms of the transaction and are targeting execution of a definitive asset purchase agreement and distribution agreement within the next several weeks. 

Execution and ultimate completion of any definitive transaction remains subject to conditions. 

1 Based on AUM as at 31 Mar 2022

About Allianz Global Investors

Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 24 offices worldwide and managing EUR 637 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.

Active is: Allianz Global Investors

Data as at 31 March 2022 

The Allianz Group is one of the world's leading insurers and asset managers with more than 122 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2022, over 159,000 employees achieved total revenues of 152.7 billion euros and an operating profit of 14.2 billion euros for the group***.
* Including non-consolidated entities with Allianz customers.
** As of September 30, 2023.
*** As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17.

Press contacts

Robin Pertusi
Allianz Global Investors
Alastair Fairbrother
Allianz Global Investors
Stefan Lutz
Allianz Global Investors
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