U.S. Markets close in 5 hrs 45 mins
  • S&P 500

    3,372.70
    +9.70 (+0.29%)
     
  • Dow 30

    27,821.71
    +40.01 (+0.14%)
     
  • Nasdaq

    11,260.17
    +92.67 (+0.83%)
     
  • Russell 2000

    1,515.52
    +7.83 (+0.52%)
     
  • Crude Oil

    38.35
    -1.87 (-4.65%)
     
  • Gold

    1,904.20
    +8.70 (+0.46%)
     
  • Silver

    23.53
    +0.04 (+0.17%)
     
  • EUR/USD

    1.1747
    +0.0021 (+0.1762%)
     
  • 10-Yr Bond

    0.7050
    +0.0280 (+4.14%)
     
  • Vix

    26.29
    -0.08 (-0.30%)
     
  • GBP/USD

    1.2870
    -0.0051 (-0.3977%)
     
  • USD/JPY

    105.6540
    +0.2240 (+0.2125%)
     
  • BTC-USD

    10,867.26
    +71.23 (+0.66%)
     
  • CMC Crypto 200

    224.76
    +1.07 (+0.48%)
     
  • FTSE 100

    5,864.77
    -1.33 (-0.02%)
     
  • Nikkei 225

    23,185.12
    0.00 (0.00%)
     

AllianceBernstein Acquires AnchorPath, Adds $400 Million AUM

Zacks Equity Research

AllianceBernstein L.P. — in which AllianceBernstein Holding AB owns nearly 36% stake — has acquired Stamford, CT-based AnchorPath Financial, LLC. While the financial terms of the transaction are not yet disclosed, it added more than $400 million worth of assets under management (AUM) to the company’s books.

As of May 31, 2020, its preliminary month-end AUM was $596 billion.

AnchorPath, founded in 2009, offers a cost-effective strategy that integrates proprietary, pro-active risk control while providing liquidity and transparency. The firm has been integrated with AllianceBernstein’s Multi-Asset Solutions business.

Daniel Loewy, head of AB Multi-Asset Solutions, said “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.”

AnchorPath's principal, Marshall Greenbaum has joined AllianceBernstein as part of the deal.

AllianceBernstein has been undertaking efforts to diversify revenues and footprint. In April 2019, it acquired U.K.-based global financial service provider, Autonomous Research. The deal strengthened the company’s scale and global reach.

Shares of this Zacks Rank #1 (Strong Buy) company have rallied 61.7% over the past three months, outperforming the industry’s 49.7% rally. You can see the complete list of today’s Zacks #1 Rank stocks here.



Asset managers across the globe are making consolidation efforts to improve market share and profitability amid a tough operating backdrop. Also, the current rise in passive, low-cost index funds has been taking a toll on the industry players’ financials. In February, Franklin Resources Inc. BEN announced an all-cash deal to acquire Legg Mason LM for $4.5 billion. Last year, Invesco IVZ had acquired OppenheimerFunds Inc. and in 2018, it had completed the buyout of Guggenheim Partners LLC’s ETF business.

5 Stocks to Soar Past the Pandemic: In addition to the companies you learned about above, we invite you to learn about 5 cutting-edge stocks that could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of the decade.

See the 5 high-tech stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
 
Legg Mason, Inc. (LM) : Free Stock Analysis Report
 
AllianceBernstein Holding L.P. (AB) : Free Stock Analysis Report
 
Invesco Ltd. (IVZ) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.