AlTi Global, Inc. announced that it expects to receive $450 million in funding from Allianz X GmbH, Constellation Wealth Capital, LLC
February 21, 2024
Share
AlTi Global, Inc. announced a private placement of up to $450,000,000 on February 22, 2024. The transaction will include participation from new investors such as Allianz X GmbH for $300,000,000 and Constellation Wealth Capital, LLC for $150,000,000. The total investement is a combination of $110 million newly issued Class A Common Stock; $140 million newly created Series A Convertible Preferred Stock; Option to invest up to an additional $50 million in Series A Convertible Preferred Stock; Warrants to purchase 5 million shares of Class A Common Stock; $150 million in newly created Series C Convertible Preferred Stock and Warrants to purchase 2 million shares of Class A Common Stock.
An initial investment of $115 million of Series C Convertible Preferred Stock is expected to close by March 31, 2024, and a further $35 million that is expected to close by June 30, 2024. The Series A Convertible Preferred Stock and Warrants will be subject to certain beneficial ownership limitations, and Allianz X GmbH will be subject to certain lock-up restrictions with respect to the Class A Common Stock it acquires at closing. The Series C Convertible Preferred Stock and Warrants will be subject to certain voting limitations, and Constellation Wealth Capital, LLC will be subject to certain lock-up restrictions with respect to its Series C Convertible Preferred Stock.
Nazim Cetin and another representative of Allianz X GmbH will join the board seat.
AlTi Global, Inc. is an independent global wealth and alternatives manager providing entrepreneurs, multi-generational families, institutions, and emerging leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. It operates through two segments: Wealth Management and Strategic Alternatives. Within its Wealth Management segment, services provided principally consist of investment management and advisory services, trusts and administrative services, and family office services. The wealth management client base includes high net worth individuals, families, single family offices, foundations, and endowments globally. In its Strategic Alternatives segment, it assists its investors with alternative investments and co-investments by providing access to differentiated opportunities in these areas as well as structuring and selecting partners with a proven track record in alternative asset classes, with risk-adjusted return characteristics.
ALTI GLOBAL, INC. 
