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Rating:Allianz Buys a $36B Global Bond Shop Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, February 08, 2016

Allianz Buys a $36B Global Bond Shop

Reported by Neil Anderson, Managing Editor

The incoming CEO of Allianz Global Investors just sealed a deal to buy a global fixed income asset manager in England.

Andreas Utermann
Allianz Global Investors 
Global Chief Investment Officer and Co-head
Today Andreas Utermann, global chief investment officer and CEO-elect of AllianzGI, confirms that the multinational asset manager has agreed to buy 100-percent of London-based Rogge Global Partners from multinational bank and insurer Old Mutual (RGP's current majority owner) and RGP's own management. The AllianzGI folks expect the deal to close by the end of Q2 2016.

The other terms and pricing of the deal were not disclosed. Yet per an AllianzGI press release, "the integrity of the RGP investment team and process will be maintained."

Olaf Rogge founded RGP in 1984, and the shop claimed $36 billion in AUM as of December 31, 2015. It has 121 employees, including more than 50 investment professionals. Beyond London, RGP has offices in Frankfurt, New York, and Singapore.

AllianzGI had 427 billion euros (about $479 billion) in AUM as of September 30, 2015. It has more than 500 investment professionals and 24 offices in 18 countries.

Utermann calls AllianzGI and RGP a "natural fit - in terms of both product mix and culture." He states that deal "will substantially enhance AllianzGI's footprint in the UK as well as making RGP's strategies available to more clients globally."

MFWire could not immediately reach an AllianzGI spokesperson for comment on whether AllianzGI will be making RGP's strategies available in U.S. mutual fund form.

Rogge himself, executive chairman and co-CIO of RGP, confirms that he and his team "initiated the search for a new strategic partner back in 2015." 

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