ALLSPRING GLOBAL INVESTMENTS TO ACQUIRE SPECIALIST FIXED INCOME INVESTMENT TEAM

Emerging Markets Corporate Debt Capability Complements $485 Billion Fixed Income Offering

CHARLOTTE, N.C., April 14, 2026 /PRNewswire/ -- Allspring Global Investments™, a global asset management firm with $628 billion* in assets under advisement, today announced that it has entered into a definitive agreement to acquire the investment team of GIA Partners, LLC, an investment firm with a proven track record in managing global credit portfolios. The GIA team, led by founder Eduardo Cortes, who has over four decades of experience in multi-sector fixed income and emerging market debt, will enhance Allspring's investment platform and capabilities. This strategic addition will strengthen Allspring's presence, particularly in emerging markets, which are experiencing heightened investor demand.** The transaction is subject to customary closing conditions and is expected to close early in the third quarter.

"Eduardo and the GIA team have a disciplined investment approach, strong culture, and proven track record in global credit markets that make them an exceptional fit for Allspring," said Allspring Chief Executive Officer Kate Burke. "Their deep expertise in emerging markets and high yield credit will add meaningful capabilities and underscores our continued commitment to invest in our fixed income platform to better serve our clients."                                                    

Cortes, who led the emerging market debt portfolio team at J.P. Morgan Investment Management prior to founding GIA Partners, is joined by a multilingual team of investment professionals, including:

• Albert Tseng, who serves as deputy CIO responsible for credit analysis, investment thesis, and portfolio analysis
• David Ellis, CFA, a high yield specialist senior portfolio manager with expertise in telecom, media, and health care
• Hamburg Tang, a senior portfolio manager focused on emerging market strategy who covers autos, airlines, consumer, and industrials
• Miguel Escobar, a portfolio manager specializing in commodities, chemicals, and energy

GIA Partners' approach to global credit includes bottom-up analysis to generate country and industry allocations, with a factor analysis overlay to monitor risk exposures. Compared with its peer group, GIA's emerging market corporate debt, high yield, and core plus strategies have demonstrated robust outperformance.

"Our plan to join Allspring marks an exciting new chapter for our team, as their commitment to deep credit research and investing in cutting-edge tools and technology aligns seamlessly with our investment philosophy," said Cortes. "We are particularly drawn to Allspring's model, which empowers portfolio management teams with autonomy while fostering collaboration. We felt an immediate cultural alignment with their seasoned and diverse fixed income teams, underpinned by a strong, client-focused investment culture."

ABOUT ALLSPRING
Allspring Global Investments™ is an independent asset management firm with more than $628 billion in assets under advisement*, 19 offices globally, and investment teams supported by 375+ investment professionals. Allspring is committed to thoughtful investing, purposeful planning, and inspiring a new era of investing that pursues both financial returns and positive outcomes. For more information, please visit www.allspringglobal.com.

*As of December 31, 2025. Figures include discretionary and non-discretionary assets.

**Emerging markets bond mutual fund and exchange-traded fund assets grew by 21% in 2025 (year over year) per eVestment, an institutional investment data and analytics platform.

Allspring Global Investments^TM (Allspring) is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments Luxembourg, S.A.; Allspring Funds Management, LLC; Allspring Global Investments, LLC; Allspring Global Investments (UK) Ltd.; Allspring Global Investments (Singapore) Pte. Ltd.; Allspring Global Investments (Hong Kong) Ltd.; Allspring Global Investments (Japan) Ltd.; and Galliard Capital Management, LLC.

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SOURCE Allspring Global Investments