Allianz Global Investors announced yesterday that it has completed its acquisition of Rogge Global Partners (RGP), the London- based global fixed income specialist.
The combination further strengthens AllianzGI's fixed income capability and provides greater global distribution potential for RGP’s strategies.
Consistent with AllianzGI’s previous integrations, the distinct dynamics and processes of RGP’s 30 year- old investment philosophy will be maintained within AllianzGI’s global investment platform. Consequently, Malie Conway will continue to lead the RGP team and in the role of CIO Global Fixed Income report to Franck Dixmier. At the same time, RGP’s Emerging Market expertise will be combined with that of AllianzGI’s Emerging Markets Debt team, led by Greg Saichin. The portfolio managers in the newly combined EM Debt team will continue to report to Greg Saichin, as part of the RGP setup.
AllianzGI has acquired 100 per cent of the issued share capital in RGP from Old Mutual and RGP management for an undisclosed sum.
Andreas Utermann, CEO and Global CIO of AllianzGI, said: "The successful completion of this transaction marks a significant milestone in the evolution of AllianzGI, giving our clients access to a suite of proven and distinct global fixed income strategies. As well as augmenting our expertise in global fundamental fixed income – an asset class where we continue to see very strong client demand – the acquisition of RGP substantially increases our footprint in the UK, a strategically important market for AllianzGI.
George McKay, Co-Head, Global head of Distribution and Global COO of AllianzGI, said: “We are delighted to welcome our new RGP colleagues to the AllianzGI family. With our joint commitment to active management, similar investment culture and values, we are sure they will find AllianzGI a natural home.”
Franck Dixmier, AllianzGI's Global Head of Fixed Income and a member of its Global Executive Committee, said: "Adding RGP’s fundamental global fixed income expertise to our investment platform fills an important gap in our product range for clients. It strengthens our fixed income knowledge base and client book beyond our traditional European centres and will, over time, present us with exciting new opportunities to create further additional products.”
Malie Conway, commented: “Increased interaction between colleagues from AllianzGI and Rogge since the announcement of this transaction has enhanced our confidence that this combination marks an exciting new chapter in RGP’s development, with our clients able to rely on a continuity of investment team and an unchanged investment process and philosophy. We look forward to working together closely with our new AllianzGI colleagues in the best interests of our clients.”