Bringing you live news and features since 2006 

Money stack

AllianceBernstein raises USD1.1bn for Public-Private Investment Fund


AllianceBernstein has completed the final round of capital raising for its Public-Private Investment Fund, exceeding the USD1.1bn capacity originally allocated for the fund when it was launched in 2009.

The capital was raised from a variety of institutional and individual investors globally.

With matching capital plus leverage provided by the US Department of the Treasury, under the US Government’s Legacy Securities Public-Private Investment Program, the fund brings to bear USD4.6bn for investing in distressed legacy non-agency residential mortgage-backed securities and commercial mortgage-backed securities.

Jeffrey Phlegar, chief investment officer and president of AllianceBernstein’s special opportunities and advisory services group, says: "This marks another significant milestone for market participants as risk aversion continues to subside and investors seek to deploy capital into strategies that seek to generate income. PPIP has enabled price discovery and the re-distribution of legacy assets. We have deployed more than 50 percent of the PPIF’s capital, along with financing from Treasury, to acquire eligible investments."

AllianceBernstein was selected by Treasury to be one of nine pre-qualified fund managers under PPIP.

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by