Posted 7/8/2009
US Treasury Selects AllianceBernstein as a Pre-Qualified Legacy Securities PPIP Fund Manager


The US Department of the Treasury has selected AllianceBernstein as one of nine pre-qualified fund managers in its Public-Private Investment Program (PPIP). Under the program, AllianceBernstein will partner with the Treasury—which will be a co-investor and will provide various leverage options for PPIP funds—to create a Public-Private Investment Fund (PPIF) which will invest in distressed “legacy securities” that are clogging the balance sheets of many financial institutions.

The Treasury selected AllianceBernstein after an extensive evaluation of submissions from over 100 unique applicants. As part of our application and to most effectively leverage this opportunity, AllianceBernstein has formed a strategic relationship with Greenfield Partners, LLC, Rialto Capital Management, LLC and Altura Capital Group, LLC. Our selection is strong evidence of our firm’s investment management capabilities within the fixed-income space, the differentiating characteristics that our strategic relationships bring to the team, and our commitment to creating innovative investment solutions.

Click here for the AllianceBernstein Press Release

 

 

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