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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Allstate Corporation | NYSE:ALL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.38 | -1.39% | 169.18 | 177.37 | 168.29 | 174.95 | 3,182,071 | 01:00:00 |
NORTHBROOK, Ill., Jan. 12, 2017 /PRNewswire/ -- In 2016, Allstate accelerated its ability to source and manage "opportunistic" investments by hiring an experienced team of six investment professionals to focus on providing nontraditional capital and liquidity solutions across asset classes, industries and geographies.
"We're thrilled with the flexible and sophisticated approach of this talented and experienced team led by Mick Solimene, who has more than 30 years of experience in special situations investing," said Russ Mayerfeld, senior managing director and head of alternative and private investments. "They are part of Allstate's ongoing initiative to increase the returns and scope of the alternative investment portfolio, which presently includes private equity, real estate, infrastructure and agribusiness."
"Allstate's opportunistic strategy seeks to capitalize on pockets of inefficiency that occur due to misunderstood or complex facts, volatile capital market conditions, changing regulatory frameworks, rapid change or other factors," Solimene said. "I look forward to extending Allstate's relationship-based approach and leveraging its broad investment experience into this segment of the market."
Allstate's Opportunistic Investments Team
The members of the team have diverse professional backgrounds, including alternative investing, investment banking, restructuring and management consulting.
Allstate's Performance-Based Opportunistic Strategy
The team adapts investment themes as market dynamics change, and views investment opportunities through a long-term lens. The typical investment size ranges from $25 million to $100 million, and the team can execute through both the primary and secondary markets. For more information, visit www.allstateinvestments.com/opportunistic.html.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, protecting approximately 16 million households from life's uncertainties through auto, home, life and other insurance. Allstate Investments has decades of experience pursuing strategies in a broad array of asset classes and geographies in both the public and private markets. For more information on the company's investments focus, visit www.allstateinvestments.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/allstate-expands-investments-team-to-seek-opportunistic-investments-300390259.html
SOURCE The Allstate Corporation
Copyright 2017 PR Newswire
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