Yahoo Finance AllianceBernstein (AB) Partners With LSV to Enhance Offerings
AllianceBernstein Holding L.P. AB has entered a strategic partnership with LSV Advisors, LLC, a firm that provides liquidity solutions for hedge funds, private equity, and other alternative investment funds. For AllianceBernstein, the partnership is expected to enhance its private wealth business, Bernstein Private Wealth Management’s investment offerings.
The main reason behind the partnership is to offer AllianceBernstein’s customers access to LSV’s investment strategy to enhance their diversification in alternative investments.
As part of the broader partnership, AllianceBernstein will become the exclusive private wealth partner for LSV.
The head of private wealth platform and partnerships at Bernstein Private Wealth Management, Aaron Bates, stated, “Through this innovative partnership structure with LSV, we will continue to enhance the services we offer our private wealth clients by expanding our private alternatives capabilities. As alternatives become an increasingly attractive source for yield amid market volatility and low rates, this partnership demonstrates our firm's broader strategy to prioritize our clients and meet their evolving needs.”
The founder and CEO of LSV, David G. Tisch, stated, “Our clients have been our core focus over the past 16 years and the partnership with Bernstein Private Wealth is an extension of that vision and a natural collaboration of two firms with shared priorities. We are excited to expand Bernstein's product offerings by bringing our investment strategy, one of the most tenured special situations secondaries programs focused on fund restructurings, to Bernstein's clients.”
So far this year, shares of AllianceBernstein have gained 48% compared with 34.8% growth recorded by the industry.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the finance space are mentioned below.
Credit Acceptance Corporation’s CACC earnings estimates for the current year have moved up 17.7% over the past 60 days. The company’s shares have gained 61.1% year to date. At present, it sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
World Acceptance Corporation’s WRLD earnings estimates for the current fiscal year have moved 24.9% upward over the past 60 days. The stock has rallied 77.6% so far this year. The company currently sports a Zacks Rank #1.
Regional Management Corp.’s RM earnings estimates for 2021 have increased 15.6% over the past 60 days. So far this year, the company’s shares have gained 89.9%. At present, it has a Zacks Rank #2 (Buy).
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World Acceptance Corporation (WRLD) : Free Stock Analysis Report
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Regional Management Corp. (RM) : Free Stock Analysis Report
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