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 bn .  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. 

For further information please contact

Robin Pertusi, Media       +1 212 739 3172      Robin.Pertusi@allianzgi.com
Alastair Fairbrother       +44 (0)20 3246 7432      Alastair.Fairbrother@allianzgi.com
Stefan Lutz       +49 69 2443 1 4276      Stefan.Lutz@allianzgi.com 

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

¹Based on AUM as at 31 Mar 2022

Data as of March 31, 2022

Investing involves risk. The value of an investment and the income from it will fluctuate and investors may not get back the principal invested. Past performance is not indicative of future performance. This is a marketing communication. It is for informational purposes only. This document does not constitute investment advice or a recommendation to buy, sell or hold any security and shall not be deemed an offer to sell or a solicitation of an offer to buy any security.
The views and opinions expressed herein, which are subject to change without notice, are those of the issuer or its affiliated companies at the time of publication. Certain data used are derived from various sources believed to be reliable, but the accuracy or completeness of the data is not guaranteed and no liability is assumed for any direct or consequential losses arising from their use. The duplication, publication, extraction or transmission of the contents, irrespective of the form, is not permitted. 

This material has not been reviewed by any regulatory authorities. In mainland China, it is for Qualified Domestic Institutional Investors scheme pursuant to applicable rules and regulations and is for information purpose only. This document does not constitute a public offer by virtue of Act Number 26.831 of the Argentine Republic and General Resolution No. 622/2013 of the NSC. This communication's sole purpose is to inform and does not under any circumstance constitute promotion or publicity of Allianz Global Investors products and/or services in Colombia or to Colombian residents pursuant to part 4 of Decree 2555 of 2010. This communication does not in any way aim to directly or indirectly initiate the purchase of a product or the provision of a service offered by Allianz Global Investors. Via reception of his document, each resident in Colombia acknowledges and accepts to have contacted Allianz Global Investors via their own initiative and that the communication under no circumstances does not arise from any promotional or marketing activities carried out by Allianz Global Investors. Colombian residents accept that accessing any type of social network page of Allianz Global Investors is done under their own responsibility and initiative and are aware that they may access specific information on the products and services of Allianz Global Investors. This communication is strictly private and confidential and may not be reproduced. This communication does not constitute a public offer of securities in Colombia pursuant to the public offer regulation set forth in Decree 2555 of 2010. This communication and the information provided herein should not be considered a solicitation or an offer by Allianz Global Investors or its affiliates to provide any financial products in Brazil, Panama, Peru, and Uruguay. In Australia, this material is presented by Allianz Global Investors Asia Pacific Limited (“AllianzGI AP”) and is intended for the use of investment consultants and other institutional/professional investors only, and is not directed to the public or individual retail investors. AllianzGI AP is not licensed to provide financial services to retail clients in Australia. AllianzGI AP is exempt from the requirement to hold an Australian Foreign Financial Service License under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order (CO 03/1103) with respect to the provision of financial services to wholesale clients only. AllianzGI AP is licensed and regulated by Hong Kong Securities and Futures Commission under Hong Kong laws, which differ from Australian laws.

This document is being distributed by the following Allianz Global Investors companies: Allianz Global Investors U.S. LLC, an investment adviser registered with the U.S. Securities and Exchange Commission; Allianz Global Investors Distributors LLC, distributor registered with FINRA, is affiliated with Allianz Global Investors U.S. LLC; Allianz Global Investors GmbH, an investment company in Germany, authorized by the Internal German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Allianz Global Investors (Schweiz) AG; in HK, by Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; ; in Singapore, by Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; in Japan, by Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424], Member of Japan  Investment Advisers Association, the Investment Trust Association, Japan and Type II Financial Instruments Firms Association; in Taiwan, by Allianz Global Investors Taiwan Ltd., licensed by  Financial Supervisory Commission in Taiwan; and in Indonesia, by PT. Allianz Global Investors Asset Management Indonesia licensed by Indonesia Financial Services Authority (OJK).

Forward-Looking and Other Cautionary Statements

Words such as “anticipate,” “estimate,” “expects,” “projects,” “intends,” “plans,” “believes,” “will” and words and terms of similar substance typically indicate forward-looking statements. All forward-looking statements are management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

You are cautioned not to rely on such forward-looking statements, which speak only as of the date they were made. Allianz Global Investors is not under any obligation, and expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements attributable to AllianzGI, its affiliates or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements referred to in this section.