2023-04-05 10:45:54 ET
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Assured Guaranty ( NYSE: AGO ) will contribute its entire equity interest in Assured Investment Management to Sound Point.
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In addition, U.S. insurers Assured Guaranty Municipal and Assured Guaranty will engage Sound Point as their sole alternative credit manager to invest $1B over time in alternative credit strategies, including nearly $400M currently managed by AssuredIM as of December 31, 2022.
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In exchange, Assured Guaranty ( AGO ) will receive a 30% ownership interest in the combined business.
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The transaction is expected to be completed in Q3 2023.
For further details see:
Assured Guaranty’s asset management to be a part of Sound Point