Brief: Allstate Launches Emerging Manager Program

The Allstate Corporation announced the launch of its first emerging manager program to invest with smaller private equity and private real estate equity asset managers, with a focus on minority- and women-owned firms. The Allstate program will be administered by the Customized Fund Investment Group (CFIG). Allstate and CFIG are seeking managers with strong investment track records who are raising their first, second or third institutional funds and with less than $500 million in assets under management. In addition, at least 33 percent of a participating firm will be owned or controlled by women and/or minorities, or at least 50 percent of fund carried interest will be paid to women or minority staff. The program’s fund managers will identify investments in the United States that meet Allstate’s desired risk-return profile. Allstate has been a leading institutional investor in real estate for more than 20 years, and has a broad real estate investment platform that includes global funds, co-investments, joint ventures and separate accounts. In addition, Allstate is a leading institutional limited partner in buyout, mezzanine, distressed and growth capital private equity funds. Allstate’s investment portfolio totaled $80.48 billion in assets under management as of Sept. 30, 2013.

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