Monday, July 4, 2022

Voya Monetary and Allianz International Traders announce plans to enter long-term strategic partnership, together with transition of chosen AllianzGI U.S. funding groups to Voya Funding Administration

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  • Deliberate partnership to incorporate:

  • Transitioning specified Allianz International Traders (Allianz GI) U.S. funding groups and property underneath administration to Voya Funding Administration (Voya IM), rising Voya IM’s AUM to roughly $370 billion on a professional forma foundation.

  • Establishing a long-term strategic-distribution partnership whereby AllianzGI will distribute Voya IM funding methods outdoors the U.S.

  • Offering AllianzGI with an as much as 24% stake in Voya IM.

NEW YORK, Could 17, 2022–(BUSINESS WIRE)–Voya Monetary, Inc. (NYSE: VOYA) (“Voya”), introduced in the present day that it has entered right into a memorandum of understanding (“MOU”) regarding AllianzGI’s switch of chosen funding groups and property comprising the substantial majority of its U.S. enterprise (“AGI U.S.”) to Voya IM, Voya’s asset administration enterprise. The deliberate strategic partnership is being disclosed in anticipation of a definitive buy settlement being finalized within the coming weeks, according to the timetable introduced in the present day for AllianzGI’s plans to divest AGI U.S.

Underneath the proposed transaction, Voya IM will purchase AGI U.S.’s extremely complementary and internationally established fairness and glued revenue funding groups, choose shopper service and gross sales professionals, and roughly $120 billion of property underneath administration (AUM), which include revenue and progress, elementary fairness, and personal placement property. On a professional forma foundation and primarily based on AUM as of March 31, 2022, Voya IM’s AUM would enhance to roughly $370 billion.

The phrases of the MOU embrace a long-term strategic-distribution partnership whereby AllianzGI would distribute Voya IM’s funding methods outdoors the U.S. This association will permit Voya IM to learn from AllianzGI’s various, international attain, and allow Voya IM to supply its enticing U.S. asset-based funding methods to an excellent bigger shopper base.

As consideration for the acquisition, AllianzGI would obtain an as much as 24% stake in Voya IM. The deliberate acquisition would require no exterior financing or use of Voya’s extra capital.

“We imagine this to be a singular alternative to amass extremely complementary funding administration groups and property, at scale, whereas preserving our robust extra capital place for added value-creation actions, reminiscent of continued share repurchases and dividends together with additional investments in our companies,” stated Rodney O. Martin, Jr., chairman and chief govt officer, Voya Monetary, Inc. “We will even proceed to execute on the natural progress plans that we shared at our Investor Day in November 2021 in order that we are able to construct upon our already robust industrial momentum.”

“We’re very enthusiastic about this potential transaction and the entire advantages that it will allow Voya IM to deliver to our shoppers, our distribution companions, and our proficient funding professionals and staff,” stated Christine Hurtsellers, chief govt officer, Voya IM. “We’ve lengthy recognized elevated scale and broader worldwide distribution as enticing progress priorities, and this transaction would assist us obtain these targets whereas complementing our continued concentrate on non-public methods and various investments, notably given the robust international demand for these methods that we’re seeing from institutional buyers and advisors.”

Voya IM’s administration and management workforce, together with Hurtsellers and Voya IM’s chief funding officers, would proceed of their roles main Voya IM, together with the newly integrated funding groups that might be a part of from AGI U.S. This can guarantee continuity of Voya IM’s funding method and technique, which incorporates leveraging Voya’s award-winning, moral tradition, in addition to the agency’s investments in knowledge, analytics and know-how to fulfill the rising wants of its shoppers.

Though the transaction shall be structured as an acquisition solely of chosen funding groups and property from AGI U.S., the phrases of the proposed transaction will present strong safety for Voya Monetary in opposition to any and all authorized or regulatory liabilities associated to AGI’s different enterprise actions, together with all actions in the US previous to the closing of the contemplated transaction.

Additional particulars of the transaction shall be introduced upon execution of definitive agreements. Voya and Allianz are working expeditiously to finalize the phrases of the transaction and are concentrating on execution of a definitive asset buy settlement and distribution settlement throughout the subsequent a number of weeks.

Goldman Sachs & Co. LLC is serving as monetary advisor, and Cleary Gottlieb Steen & Hamilton LLP is serving as authorized counsel to Voya in reference to this transaction.

The execution and supreme completion of a definitive transaction can’t be assured, and is topic to circumstances, together with regulatory opinions and approvals.

About Voya Monetary®

Voya Monetary, Inc. (NYSE: VOYA), is a number one well being, wealth and funding firm that gives merchandise, options and applied sciences that assist People turn into properly deliberate, properly invested and properly protected. Serving the wants of 14.3 million particular person, office and institutional shoppers, Voya is a Fortune 500 firm that had $4.2 billion in income in 2021 and $707 billion in whole property underneath administration and administration as of March 31, 2022. Licensed as a “Nice Place to Work” by the Nice Place to Work® Institute, Voya is purpose-driven and is equally dedicated to conducting enterprise in a method that’s socially, environmentally, economically and ethically accountable. Voya has earned recognition as: one of many World’s Most Moral Corporations® by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a “Finest Place to Work for Incapacity Inclusion” on the Incapacity Equality Index. For extra data, go to Comply with Voya Monetary on Fb, LinkedIn and Twitter @Voya.

Ahead-Wanting and Different Cautionary Statements

This press launch incorporates forward-looking statements throughout the that means of the Personal Securities Litigation Reform Act of 1995. The corporate doesn’t assume any obligation to revise or replace these statements to mirror new data, subsequent occasions or adjustments in technique. Ahead-looking statements embrace statements regarding future developments in our enterprise or expectations for our future monetary efficiency and any assertion not involving a historic truth. Ahead-looking statements use phrases reminiscent of “anticipate,” “imagine,” “estimate,” “count on,” “intend,” “plan,” and different phrases and phrases of comparable that means in reference to a dialogue of future working or monetary efficiency. Precise outcomes, efficiency or occasions might differ materially from these projected in any forward-looking assertion resulting from, amongst different issues, (i) basic financial circumstances, notably financial circumstances in our core markets, (ii) efficiency of monetary markets, (iii) the frequency and severity of insured loss occasions, (iv) the results of pure or man-made disasters, together with pandemic occasions and particularly the present COVID-19 pandemic occasion, (v) mortality and morbidity ranges, (vi) persistency and lapse ranges, (vii) rates of interest, (viii) foreign money trade charges, (ix) basic aggressive components, (x) adjustments in legal guidelines and rules, reminiscent of these regarding Federal taxation, state insurance coverage rules and NAIC rules and pointers, (xi) adjustments within the insurance policies of governments and/or regulatory authorities, (xii) our skill to efficiently handle the separation of our particular person life enterprise on the anticipated timeline and financial phrases, and (xiii) as to the proposed transaction described above, whether or not the events efficiently conclude the transaction together with their skill to achieve settlement on definitive documentation and obtain favorable regulatory opinions and approvals. Components that will trigger precise outcomes to vary from these in any forward-looking assertion additionally embrace these described underneath “Threat Components” and “Administration’s Dialogue and Evaluation of Outcomes of Operations and Monetary Situation (“MD&A”) – Traits and Uncertainties” in our Annual Report on Kind 10-Ok for the 12 months ended Dec. 31, 2021, which the Firm filed with the SEC on Feb. 22, 2022, and in our Quarterly Report on Kind 10-Q for the three months ended March 31, 2022, which the Firm filed with the SEC on Could 5, 2022.


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Media Contact:
Christopher Breslin
(212) 309-8941

Investor Contact:
Michael Katz
(212) 309-8999

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