NEW YORK, June 17, 2020 /PRNewswire/ -- AllianceBernstein L.P. ("AB"), a leading global investment management firm, today announced that AB acquired AnchorPath Financial, LLC earlier during the second quarter of 2020. AnchorPath, an investment management firm founded in 2009, has developed a cost-effective strategy that integrates proprietary, pro-active risk control while providing liquidity and transparency.
"Through this acquisition, AB adds another proven and differentiated investment capability to its risk-managed platform. AnchorPath uses a unique lens to construct solutions that enable funds to outperform relevant indexes with decreased downside risk and will benefit from AB's distribution expertise," said Daniel Loewy, Head of AB Multi-Asset Solutions.
The AnchorPath team recently joined AB's Multi-Asset Solutions business, which helped lead to the addition of more than $400m of assets under management. AnchorPath's principal, Marshall Greenbaum, also joined AB as part of the acquisition. Mr. Greenbaum has two decades of experience providing risk protected solutions to U.S. insurers.
AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.
As of March 31, 2020, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.9% of AllianceBernstein and Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 64.9% economic interest in AllianceBernstein.
Additional information about AB may be found on our website, www.alliancebernstein.com.