Proposed by AllianceBernstein
NASHVILLE, Tenn., July 7, 2022 /CSRwire/ — AllianceBernstein LP (“AB”) (NYSE: AB), a leading global investment manager, announced that the company has entered into a strategic partnership with Impact Engine, a private equity and venture capital investment firm with a decade-long history of proprietary investing with an impact lens.
The new partnership will enhance the impact investing offerings for AB’s private wealth management business, Bernstein Private Wealth Management. The partnership will specifically focus on goal-oriented investments to drive environmental sustainability, economic opportunity and health equity among venture capital, growth capital and buyout managers.
“This differentiated and exciting partnership with Impact Engine will enable Bernstein Private Wealth to provide access to innovative impact-driven private companies, which a growing list of our clients are looking for, and we could not provide without this partnership,” said Beata Kirr, Co. – Head of Investment Strategies at Bernstein Private Wealth Management. “Having searched for the right partner to grow with in this space, we look forward to synchronizing with the Impact Engine team to generate attractive returns for our clients through investments that can also have a real and positive impact in the world.”
Founded in 2012 with the goal of demonstrating the power to generate financial returns while driving positive impact results, the Chicago-based, women-owned and led company has invested in venture capital and private equity, as well as in direct investments and corporate funds. Impact Engine is also recognized as an educator and pitch builder in the impact investing industry.
“We are delighted to partner with Bernstein Private Wealth Management to bring an impact investing solution to the private market,” said Priya Parrish, Partner and Chief Investment Officer of Impact Engine. “This strategic relationship supports our mission as a public benefit corporation to engage more investors, entrepreneurs and advisors in a market where financial returns are linked to positive social impacts, and it will also contribute to the growth and diversification of the impact investing industry. ”
“Over the past year, our company’s portfolios with Purpose AUM totaled $29 billion, a 37% year-over-year increase,” said Michelle Dunstan, Chief responsibility of AB. “This significant growth represents a strong desire from our clients to see their investments generate positive and tangible change in addition to financial returns. Our firm recognizes that impact through investment cannot be achieved alone; this partnership with Impact Engine reflects our overall goal of creating a better future while generating the financial results that our clients desire.
AllianceBernstein is a leading global investment management firm that provides high-quality, diversified research and investment services to institutional investors, individuals and private wealth clients in major global markets. As of May 2022, AllianceBernstein had $687 billion in assets under management. Additional information about AB is available on our website, www.alliancebernstein.com.
About the Impact Engine
Impact Engine is a Chicago-based, women-owned and directed venture capital and private equity firm that invests exclusively in funds and companies that have a positive impact on the economy.
opportunities, environmental sustainability and health equity. Additional information about Impact Engine is available at www.theimpactengine.com.
AllianceBernstein is a leading global investment management firm that provides high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major global markets.
As of September 30, 2021, including the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 36.1% of AllianceBernstein and Equitable Holdings, Inc. (“EQH”), directly and through through various subsidiaries, held approximately 64.7% economic interest in AllianceBernstein.
Additional information about AB is available on our website, www.alliancebernstein.com.