New York, March 27, 2024–(BUSINESS WIRE)–Alti Global Inc. (NASDAQ: ALTI), a leading independent global wealth and alternatives manager with over $70 billion in assets, (the “Company”) today announced an initial investment from Constellation Wealth Capital (“CWC”). CWC, an investment advisory firm specializing in investments in industry-leading wealth managers, invests $115 million in AlTi as part of a previously announced strategic investment of up to $450 million by AllianzX and CWC made the initial investment.
AlTi will use this capital primarily to fund its mergers and acquisitions pipeline and organic growth activities.
Under the terms of the agreement, AlTi sold 115,000 newly created Series C convertible preferred shares for a purchase price valued at $115 million and issued warrants for 1,533,333 shares of AlTi's Class A common stock.
As previously reported, from May 1, 2024 to September 30, 2024, AlTi will purchase an additional 35,000 shares of Series C convertible preferred stock from CWC, representing an additional investment of $35 million. It is permitted to issue capital demand notices requiring capital requirements. , subject to applicable regulatory approvals and other customary closing conditions. If AlTi provides such notification, CWC will also receive purchase warrants for 466,667 shares of Class A common stock.
Further details are contained in the Company's Current Reports on Form 8-K filed with the Securities and Exchange Commission.
About Alti
AlTi is a leading global independent wealth and alternative manager providing fiduciary capabilities and alternative investment strategies and advisory services to entrepreneurs, multigenerational families, institutions, and emerging next-generation leaders. AlTi's comprehensive offering is highlighted by its commitment to impact- and values-aligned investments and its commitment to creating a net positive impact through its business activities. The firm currently manages or advises on more than $70 billion in total assets and has an extensive network of approximately 480 professionals across three continents. For more information, please visit www.alti-global.com.
About Constellation Wealth Capital
Constellation Wealth Capital is an alternative wealth management platform specializing in the wealth management sector. CWC provides flexible long-term capital solutions and strategic advisory support for large-scale asset management platforms.
CWC leverages its deep industry experience and relationships to the benefit of its partner companies. For more information, please visit www.constellationwealthcapital.com.
Forward-looking statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation. There is a gender. Reform Act 1995. All statements other than statements of historical fact are forward-looking statements. “anticipate”, “believe”, “continue”, “estimate”, “expect”, “future”, “intend”, “may”, “plan”, “schedule”, etc. The words and similar expressions identify forward-looking statements. . Forward-looking statements reflect management's current plans, estimates and expectations and are inherently uncertain. The inclusion of forward-looking information in this press release should not be considered a representation that any contemplated future plans, estimates or expectations will be achieved. Forward-looking statements involve various risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from those in forward-looking statements include global and domestic market and business conditions, the successful execution of our business and growth strategies, and regulatory factors related to our business. Including, but not limited to: Our business, financial results, financial condition, business outlook, growth strategy, liquidity and risk factors contained in AlTi Global's Registration Statement on Form 10-K filed March 22, 2024 are detailed in Assumptions regarding the risks and uncertainties described in . , and in subsequent reports filed with the Securities and Exchange Commission, such factors may be updated from time to time. We undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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contact address
Alti investor information:
Lily Arteaga, Head of Investor Relations, investor@alti-global.com
AlTi media relations:
Alex Jorgensen, pro-alti@prosek.com
Constellation Wealth Capital Media Relations:
Mike Geller, mgeller@prosek.com
