AllianceBernstein Acquires SunAmerica’s Alternative Investments Group

AllianceBernstein L.P. (AB), a co. which together with its subsidiaries provide investment management and related services to institutional, retail, and private clients in the U.S. and internationally, today announced that it has acquired SunAmerica’s alternative investments group, a team that manages a portfolio of hedge fund and private equity fund investments.

“We are pleased to add to our alternative investment capabilities this exceptional hedge fund and private equity fund investment team,” said in a statement AllianceBernstein Chairman and CEO Peter Kraus. “Marc Gamsin and his SunAmerica Alternative Investments colleagues have built an outstanding platform, which we believe will provide valued investment opportunities for our clients.”

AB  shares gained 9 cents, or 0.34%, in Friday trading.

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