Assured Guaranty completes asset management combination with Sound Point, receives 30% stake

ASSURED GUARANTY LTD

Contributed AssuredIM equity to Sound Point effective July 1, 2023.
Received 30% ownership in combined entity; Sound Point becomes 5th largest global CLO manager by AUM.
AGM and AGC engaged Sound Point as sole alternative credit manager to invest $1B over time (incl. ~$400M previously managed by AssuredIM).
Transaction expected to be immediately accretive to EPS, ROE, BVPS, and adjusted book value per share.
CEO Dominic Frederico joins Sound Point Board of Managers.

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