The groups have formed a JV and launched a private market debt programme.

AlTi Tiedemann Global, the international multi-family office with more than $72 billion in assets, has formed a strategic partnership with Allianz Global Investors, to build a private market offering for the ultra-HNW wealth segment.

As a result of the joint venture, the groups will launch a private markets investment programme for UHNW clients that will tap into AllianzGI’s network. Included in this is the AlTi-Allianz Private Debt Program, set to be offered by a semi-liquid evergreen structure, the organisations said.

(The evergreen model, as advocates such as Blackstone say (see here), may help square the circle for regulators seeking ways of widening access to these asset classes without the worry that people will be caught in illiquid assets which they don’t understand, and where demands for cash can suddenly spike.)

Initially, the programme will focus on the $1.5 trillion global private debt market, the firms said.

“Our AlTi-Allianz Private Debt Program sets a new benchmark in the UHNW wealth management industry. We believe the combined resources of our platforms will provide current and prospective clients with an offering that is unmatched in the alternatives investment space,” Michael Tiedemann, CEO of AlTi Tiedemann Global, said.

“For ultra-high net worth individuals and select institutional investors, diversification beyond the public financial markets can help to preserve and grow capital,” Tobias Pross, CEO of Allianz Global Investors, said. 

The formation of the joint venture and the launch of the private debt programme are contingent upon the completion of definitive agreements and obtaining necessary regulatory approvals, the firms added.