Guggenheim Investments announced the closing of an approximately $400 million vehicle that will invest in Guggenheim’s private debt strategy. The transaction was reportedly led by Allianz Global Investors (AllianzGI).
As stated in the announcement, a group of funds managed by StepStone Group (NASDAQ: STEP, ‘StepStone’) co-underwrote the transaction.
This vehicle includes approximately “$100 million of financing.”
Kevin Gundersen, Head of Guggenheim Corporate Funding, LLC, the private debt investment manager of Guggenheim Investments said:
“We believe this partnership continues to fuel the ongoing success of our franchise and enables us to further leverage our strong origination and underwriting platform in a rapidly growing market.”
Anselm Feigenbutz, Portfolio Manager for Secondaries Private Debt at Allianz Global Investors said:
“This investment provides us with access to a high quality portfolio with attractive diversification across borrower, sector, and vintage backed by a GP with an established track record in private credit.”
Guggenheim Securities, LLC served “as exclusive placement agent to Guggenheim Corporate Funding, LLC.”
Latham & Watkins LLP provided “legal counsel on the transaction.”
As noted in the update, Guggenheim Investments is the global asset management and investment advisory “division of Guggenheim Partners, a global investment and advisory firm with more than $335 billion in assets under management/supervision.”
Guggenheim Investments has more than “$249 billion in total assets across fixed income, equity and alternative strategies.”
Guggenheim Investments focuses on the return and risk “needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, wealth managers and high net worth investors with a track record of delivering results through innovative solutions.”
As mentioned in the announcement, Allianz Global Investors is an active asset manager with over 600 investment professionals in “over 20 offices worldwide and managing EUR 560 billion in assets.”
