PR Newswire: news distribution, targeting and monitoring
2014

Allstate Launches Emerging Manager Program

Insurer Seeks Outstanding Emerging Managers, Minority- and Women-Owned Firms to Invest in Private Equity, Private Real Estate Equity

Share with Twitter Share with LinkedIn

NORTHBROOK, Ill., Dec. 3, 2013 /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) today announced the launch of its first emerging manager program to invest with smaller private equity and private real estate equity asset managers, with a focus on  minority- and women-owned firms.

(Logo: http://photos.prnewswire.com/prnh/20130404/MM88193-b)

"We believe Allstate is leading the insurance industry in establishing this emerging manager investment program," said Edgar Alvarado, Allstate's group head of real estate equity. "We see this program as our farm team – a way to identify the next generation of investment stars, break down the high barriers to entry for these talented managers, and have Allstate be a catalyst in the success of emerging managers. Just as important, Allstate expects its socially responsible investments to achieve strong returns – we truly can say we do well by being a force for good."

The Allstate program will be administered by the Customized Fund Investment Group (CFIG). Allstate and CFIG are seeking managers with strong investment track records and who are raising their first, second or third institutional funds and with less than $500 million in assets under management. In addition, at least 33 percent of a participating firm will be owned or controlled by women and/or minorities, or at least 50 percent of fund carried interest will be paid to women or minority staff.

The program's fund managers will identify investments in the United States that meet Allstate's desired risk-return profile. Allstate has been a leading institutional investor in real estate for more than 20 years, and has a broad real estate investment platform that includes global funds, co-investments, joint ventures and separate accounts. In addition, Allstate is a leading institutional limited partner in buyout, mezzanine, distressed and growth capital private equity funds. Allstate's investment portfolio totaled $80.48 billion in assets under management as of September 30, 2013.

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate®, and are widely known through the slogan "You're In Good Hands With Allstate®." As part of Allstate's commitment to strengthen local communities, The Allstate Foundation, Allstate employees, agency owners and the corporation provided $29 million in 2012 to thousands of nonprofit organizations and important causes across the United States.

SOURCE The Allstate Corporation



Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release