January 22, 2025
Guggenheim Investments Announces New Private Debt Vehicle Backed by Allianz Global Investors
NEW YORK, NY – Guggenheim Investments (“Guggenheim”) today announced the closing of an approximately $400 million vehicle that will invest in Guggenheim’s private debt strategy. The transaction was led by Allianz Global Investors (“AllianzGI”). A group of funds managed by StepStone Group (NASDAQ: STEP, “StepStone”) co-underwrote the transaction. This vehicle includes approximately $100 million of financing.
“Investors have a multitude of options in the ever-evolving private debt market,” said Dina DiLorenzo, President of Guggenheim Investments, “and we are thrilled by the trust placed in Guggenheim by world-class fund allocators.”
“We are excited to have prominent institutional investors like AllianzGI and StepStone as LPs,” said Kevin Gundersen, Head of Guggenheim Corporate Funding, LLC, the private debt investment manager of Guggenheim Investments. “We believe this partnership continues to fuel the ongoing success of our franchise and enables us to further leverage our strong origination and underwriting platform in a rapidly growing market.”
“We are pleased to establish a partnership with Guggenheim’s private debt team and help structure this transaction,” said Anselm Feigenbutz, Portfolio Manager for Secondaries Private Debt at Allianz Global Investors. “This investment provides us with access to a high quality portfolio with attractive diversification across borrower, sector, and vintage backed by a GP with an established track record in private credit."
Guggenheim Securities, LLC served as exclusive placement agent to Guggenheim Corporate Funding, LLC. Latham & Watkins LLP provided legal counsel on the transaction.
About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, a global investment and advisory firm with more than $335 billion in assets under management/supervision1.
Guggenheim Investments has more than $249 billion2 in total assets across fixed income, equity and alternative strategies.
Guggenheim Investments focuses on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, wealth managers and high net worth investors with a track record of delivering results through innovative solutions. For more information, please visit https://www.guggenheiminvestments.com.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 600 investment professionals in over 20 offices worldwide and managing EUR 560 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
Data as at 30 September 2024. Total assets under management are assets or securities portfolios, valued at current market value, for which Allianz Global Investors companies are responsible vis-á-vis clients for providing discretionary investment management decisions and portfolio management, either directly or via a sub-advisor (these include Allianz Global Investors assets which are now sub-advised by Voya IM since 25 July 2022). This excludes assets for which Allianz Global Investors companies are primarily responsible for administrative services only. Assets under management are managed on behalf of third parties as well as on behalf of the Allianz Group.
About StepStone
StepStone Group Inc. (NASDAQ: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of September 30, 2024, StepStone was responsible for approximately $682 billion of total capital, including $176 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
All asset figures referenced herein are based on 9.30.2024 figures.
1. Assets under management are as of 09.30.2024 and include consulting services for clients whose assets are valued at approximately $94bn as well as $40.4bn in non-advisory Assets Under Supervision.
2. Total assets are as of 9.30.2024 and include leverage of $14.8bn. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors, LLC.
Investors should carefully consider the investment objectives, risks, and charges and expenses of the fund before investing. The prospectus contains this and other information about the fund, and it should be read carefully before investing. Investors may obtain a copy of the prospectus by calling 833-840-3937.
Past performance is no guarantee of future results. Investing involves risk, including the possible loss of principal. Distributed by Ultimus Fund Distributors, LLC (Member FINRA). Ultimus Fund Distributors, LLC and New Age Alpha are not affiliated.
Media Contact
Gerard Carney
Guggenheim Partners
917.703.6368
gerard.carney@guggenheimpartners.com