AllianceBernstein Holding L.P. (NYSE:AB) Q2 2023 Earnings Call Transcript

Seth Bernstein: Yes. To be specific and my team will correct me if I’m wrong, but I think the Equitable and its Investor Day cited through 2027, I believe was their timeframe. And that is predicated on them growing their general account as well. We have been in active conversations about new structured credit strategies, for example, and new areas of investment that pick up our both CarVal as well as our middle market lending group and others they continue to be quite supportive in our commercial real estate debt area where we see obviously a much more interesting buyer’s market to play in. And so it — they will be very methodical and they will roll out progressively over the next several years. So it’s hard for me to gauge because it’s not only the timing of getting it through their approval process and setting up the structure, but it’s also the team’s finding opportunities to deploy it.

And finally, of course there’s a private placement debt element of that, which is investment grade principally which has always been a part of our mix, and will continue to be part of what Equitable is interesting in doing, given their very strong quality orientation for the GA.

Operator: And there are no further questions at this time. Mr. Griffin, I turn the call back over to you.

Mark Griffin: Perfect. Thank you, everyone for joining us today. We appreciate your time. If you have any additional questions, please reach out to Investor Relations and have a great day.