Allstate Selects Voya Investment Management for Portfolio Mandate
25 Ottobre 2022 - 2:30PM
Business Wire
Voya Investment Management, the asset management business of
Voya Financial, Inc. (NYSE: VOYA), announced today that it was
selected by Allstate (NYSE: ALL) to manage the firm’s $850 million
commercial mortgage portfolio effective Nov. 14, 2022. Allstate
will retain ownership of the assets, which will transfer to Voya IM
under a separately managed account and the existing assets will
remain part of Allstate’s portfolio. Voya will be responsible for
future originations consistent with maintaining a target allocation
to the asset class on behalf of Allstate.
In addition, as part of the agreement, Allstate will transition
approximately seven employees who constitute their commercial
mortgage team to Voya Investment Management (Voya IM). These
employees will be integrated into Voya IM’s commercial mortgage
team, led by Greg Michaud, and will help manage Voya’s commercial
mortgage mandates, including the Allstate portfolio.
“We are very excited that Voya IM was selected to manage this
important mandate from Allstate. We have an incredibly talented
team at Voya, and Allstate’s trust in us is a testament to that
fact,” said Michaud. “I look forward to their high-quality
investment team joining ours to help us grow this critical
investment sector for our firm.”
“Our commercial mortgage portfolio has demonstrated outstanding
performance over time and the asset class remains an attractive
allocation in the portfolio. However, a substantial proportion of
our commercial mortgage assets were held in our life company
entities, which were sold last year, and it is no longer optimal to
maintain this capability internally,” said Mike Moran, Managing
Director & Vice President of Allstate’s Real Estate Investment
Group. “Voya IM has a large and active mortgage loan platform with
significant third-party asset management capabilities, providing
both sound stewardship of our assets and career growth
opportunities for our highly talented commercial mortgage
team.”
About Voya Investment Management
Voya Investment Management manages approximately $330 billion*
in assets across public and private fixed income, equities,
multi-asset solutions and alternative strategies for institutions,
financial intermediaries and individual investors, drawing on a
50-year legacy of active investing and the expertise of 300+
investment professionals. Named a Best Place to Work in Money
Management by Pensions & Investments for seven consecutive
years, Voya IM has cultivated a culture grounded in a commitment to
understanding and anticipating clients’ needs, producing strong
investment performance, and embedding diversity, equity and
inclusion in its business. (*AUM as of 6/30/22, reflecting pro
forma assets of Voya IM and select strategies of Allianz Global
Investors U.S., integrated as of 7/25/22.)
About Allstate Investments
Allstate Investments spans a diverse, talented group of 300+
professionals well-qualified to support our investing and operating
activities. Our collective team experience covers a broad array of
asset classes, industries, sectors and geographies. We have a
proven track record of delivering strong results by taking a
client-centered, proactive, innovative, and flexible approach to
investing. Beyond who we are, it’s where we are. We believe a
global presence sharpens our investment expertise, which is why,
along with our Chicago-area headquarters, we also have an office in
London. With eyes and ears across time zones, we keep a steadfast
pulse on the market. We’re also proud to partner with top tier
global asset managers and sponsors to extend our investing
capabilities.
VOYA-IM
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version on businesswire.com: https://www.businesswire.com/news/home/20221025005595/en/
Media: Kristopher Kagel (212) 309-6568
Kristopher.Kagel@voya.com
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