Global investment manager AllianceBernstein (AB) has established a strategic partnership with LSV Advisors (LSV), a special situations secondaries firm focused on liquidity solutions for hedge fund, private equity, and other alternative investment funds.
The new partnership will enhance investment offerings for the firm’s private wealth business, Bernstein Private Wealth Management. The goal of the partnership is to provide clients access to LSV’s investment strategy to enhance their diversification in alternative investments. As a part of the broader strategic partnership, AB will become the exclusive private wealth partner for LSV.
Founded in 2005, LSV is a pioneer in providing liquidity solutions for investors and managers of private funds, as well as direct private assets, and is currently investing its sixth round of investment funds.
“Through this innovative partnership structure with LSV, we will continue to enhance the services we offer our private wealth clients by expanding our private alternatives capabilities,” says Aaron Bates, Head of Private Wealth Platform and Partnerships at Bernstein Private Wealth Management. “As alternatives become an increasingly attractive source for yield amid market volatility and low rates, this partnership demonstrates our firm’s broader strategy to prioritise our clients and meet their evolving needs.”
“Our clients have been our core focus over the past 16 years and the partnership with Bernstein Private Wealth is an extension of that vision and a natural collaboration of two firms with shared priorities,” says David G Tisch, LSV’s founder and CEO. “We are excited to expand Bernstein’s product offerings by bringing our investment strategy, one of the most tenured special situations secondaries programs focused on fund restructurings, to Bernstein’s clients. We believe that our expanded partnership with Bernstein is timely and highly synergistic, enabling both firms to take advantage of the current market opportunity.”
The partnership expands LSV’s ability to execute on its unique investment strategy within secondaries, with an increased ability to transact on its proprietary pipeline of opportunities. LSV’s existing limited partner base is comprised of leading institutional investors and sophisticated family offices.