American asset management firm
AllianceBernstein Holding L.P. (AB) is a global asset management firm providing investment management and research services worldwide to institutional, high-net-worth and retail investors.
AllianceBernstein's headquarters are located in Nashville, Tennessee; the firm also has locations throughout the world. It has approximately US$779 billion in assets under management as of 31 December 2021[update].
History
Origins
AllianceBernstein traces its origins back to the founding of Sanford C. Bernstein in 1967 as an investment-management firm for private clients. Sanford C. Bernstein & Company was originally co-founded by Zalman Bernstein, Paul P. Bernstein, Shepard D. Osherow, Roger Hertog and Lewis A. Sanders.[2]
Alliance Capital was founded in 1971 when the investment-management department of Donaldson, Lufkin & Jenrette, Inc. merged with the investment-advisory business of Moody's Investor Services, Inc.[3]
2000–2020
In October 2000, Alliance Capital acquired Sanford C. Bernstein.[4] Alliance Capital's growth equity and corporate fixed-income investing, and its family of retail mutual funds, accompanied Bernstein's value equity and tax-exempt fixed-income management and its private-client business.
It had approximately US$800 billion assets under management as of the end of 2007.[5]
On January 20, 2015, AllianceBernstein announced a new brand name ("AB") and logo.[6]
AllianceBernstein and Fidelity Investments took control of supermarket Winn-Dixie's parent company during the latter's 2018 bankruptcy.[7]
In 2018, AllianceBernstein announced the move of their global headquarters from New York City to Nashville, while also having an office remaining in Midtown in New York City.[8][9]
In 2019, AllianceBernstein partnered with Columbia University to provide training courses on sustainability and environmental sciences to its staff of investors.[10][11]
In 2019, Alliance Bernstein was flagged by the Boycott, Divestment and Sanctions movement as a subsidiary of AXA through which the French insurance group maintained indirect investments in Elbit Systems and Israeli banks despite a partial divestment by the parent company.[12]
In June 2020, AllianceBernstein acquired investment management firm AnchorPath for $400 million.[13]
2021–present
In April 2021, AllianceBernstein moved to a new headquarters in Nashville, Tennessee.[14][15] In September 2021, AllianceBernstein gave a $100,000 gift to the Nashville-based Martha O'Bryan Center.[16]
In mid-August 2021, AllianceBernstein disclosed that it had entered a strategic partnership with LSV Advisors, LLC, in which AB would become the exclusive private wealth partner for LSV..[17]
In March 2022, it was announced that AllianceBernstein had acquired the Minneapolis-headquartered CarVal Investors – a global private alternatives investment manager.[18][19]
Organization
AllianceBernstein is 64 percent owned by Equitable Holdings.[20] Its global headquarters are located in Nashville, Tennessee at the Fifth and Broadway development.[8][9] AllianceBernstein has offices in 46 locations across 22 countries.[21]
AllianceBernstein provides investment services for institutions. Typical clients include defined benefit pension plans and defined contribution plans. It has approximately US$498 billion in assets under management as of June 30, 2017.[22] The retail part of AllianceBernstein provides financial professionals and individual investors with investments, research and tools that cover mutual funds, managed accounts, college and retirement saving, and insurance services.[23]
Sell-side research and brokerage services are provided by wholly-owned subsidiary Sanford C. Bernstein, also known as Bernstein Research.[24] Bernstein Wealth Management, part of AllianceBernstein, provides investment and wealth-planning services for high-net-worth clients in the Americas.[25]
Rhode Island's 529 savings plan, CollegeBoundfund, was managed by AllianceBernstein and featured AllianceBernstein mutual funds until 2016.[26]
US$4.16 billion (2023)
US$765 million (2023)
