TRANSACTION SUMMARY

On 8 February 2016, Allianz Global Investors (AllianzGI) announced that it will acquire 100 per cent of the issued share capital of Rogge Global Partners (RGP) from Old Mutual and RGP management for an undisclosed amount. Spencer House Partners acted as financial adviser RGP, a London-based global fixed income specialist with approximately $36 billion of AuM.

The combination will further strengthen AllianzGI's growing fixed income capability and client proposition, while providing RGP with a strategic partner which will offer greater distribution potential for its strategies. Consistent with AllianzGI’s previous acquisitions and integrations, the integrity of the RGP investment team and process will be maintained. The RGP team will become part of AllianzGI’s global investment platform, which is set up to preserve the distinct dynamics, processes and philosophies of different investment teams.

AllianzGI’s commitment to building out its fixed income capability has seen it make a number of investments in this area in recent years, including the creation of an Asian Fixed Income team under the leadership of David Tan, the development of its Emerging Market Debt team led by Greg Saichin and more recently the hiring of Mike Riddell to lead the development of its UK Fixed Income capability. These investments augment AllianzGI's already substantial Fixed Income capability.

ROGGE GLOBAL PARTNERS

Established in 1984, RGP has been investing in global fixed income markets since inception. While many peers are domestic fixed income businesses that have developed global strategies over time, RGP has been global from the outset, enabling the company to capitalise on the widest possible opportunity set. RGP’s investment philosophy is based on the belief that over time, healthy countries produce the highest bond and currency returns. As a global money manager, RGP seeks out financial health in countries, currencies and companies globally.

ALLIANZ GLOBAL INVESTORS

AllianzGI is a diversified active investment manager. It has grown to manage €167 billion in fixed income (from total AuM of €427 billion), up from €109 billion four years ago, and has seen positive net inflows in each of the last 11 quarters. It has 24 offices in 18 countries and employs more than 500 investment professionals.

ROLE

Spencer House Partners advised RGP on the transaction.