NEW YORK, June 17, 2016 /PRNewswire/
-- AllianceBernstein L.P. ("AB"), a leading global investment
firm with $487 billion in assets
under management, announced today that it has signed a letter of
intent under which AB would assume management of Visium Asset
Management's Global Fund, a multisector long/short equity hedge
fund. As part of the transaction, the Visium Global Fund's
investment team and certain support staff would join AB.
"The Visium Global Fund is a unique opportunity to further
strengthen AB's alternatives platform," said Peter S. Kraus, Chairman and Chief Executive
Officer of AB. "The Fund has produced strong risk-adjusted
performance since its inception in 2007, and enhances our ability
to meet our clients' need for idiosyncratic alpha across market
cycles."
This transaction is subject to completing due diligence,
agreement on transaction documentation and customary closing
conditions, including any required investor
approvals.
About AB
AB is a leading global investment management firm that offers
high-quality research and diversified investment services to
institutional investors, individuals and private wealth clients in
major world markets.
At March 31, 2016, AB Holding
owned approximately 36.4% of the issued and outstanding AB Units
and AXA, one of the largest global financial services
organizations, owned an approximate 63.2% economic interest in
AB.
Additional information about AB may be found on our website,
www.abglobal.com
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SOURCE AllianceBernstein L.P.