AB - AllianceBernstein to acquire CarVal Investors for $750M

AllianceBernstein (NYSE:AB) plans to acquire CarVal Investors, a global private alternatives investment manager with ~$14.3B in AUM mainly focusing on opportunistic and distressed credit, renewable energy infrastructure, specialty finance and transportation investments. AB will purchase 100% of CarVal for an upfront purchase price of $750M and a multi-year earnout if certain targets are reached. The acquisition expands AB's private markets capabilities to encompass ~$50B in AUM on a pro forma basis. Transaction closure expected in 2Q22 wherein CarVal will become a wholly owned subsidiary of AllianceBernstein and will be rebranded as AB CarVal Investors. The addition of CarVal with 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. 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

For further details see:

AllianceBernstein to acquire CarVal Investors for $750M