Voya in Combination Agreement With AllianzGI

June 13, 2022

Cleary Gottlieb is representing Voya Financial Inc. (Voya) in its entry into a definitive agreement with Allianz Global Investors (AllianzGI) to combine certain assets and teams from AllianzGI’s U.S. business with Voya Investment Management (Voya IM), the asset management business of Voya.

AllianzGI and Voya initially announced on May 17, 2022, that the companies had entered into a memorandum of understanding regarding the strategic partnership. The transaction signed on June 13, 2022, and is expected to close in July 2022, subject to satisfaction of closing conditions.

In addition, at the closing of the transaction, Voya IM and AllianzGI have agreed to enter into a long-term strategic-distribution partnership whereby AllianzGI will distribute Voya IM’s investment strategies outside the U.S. and Canada. This arrangement will allow Voya IM to benefit from AllianzGI’s diverse, global reach, and enable Voya IM to offer its attractive U.S. asset-based investment strategies to an even larger client base.

Voya is a leading health, wealth, and investment company. Voya had $707 billion in total assets under management and administration as of March 31, 2022. AllianzGI is a leading active asset manager with over 700 investment professionals in 24 offices worldwide and managing €637 billion in assets.

For more information, please see the press release here.