Mayer Brown advised Assured Guaranty Ltd., together with the subsidiaries, (Assured Guaranty) on an agreement, announced yesterday, with Sound Point Capital Management, L.P. (Sound Point) pursuant to which Assured Guaranty will contribute its entire equity interest in Assured Investment Management LLC and, with certain exceptions, its related asset management entities (collectively, AssuredIM) to Sound Point.

US insurers Assured Guaranty Municipal Corp. and Assured Guaranty Corp. will also engage Sound Point as their sole alternative credit manager to invest $1 billion over time in alternative credit strategies, including nearly $400 million currently managed by AssuredIM as of December 31, 2022. In exchange, Assured Guaranty will receive a 30 percent ownership interest in the combined business, subject to potential post-closing adjustments.

The team was led by partners Eddie Best, Esther Chang and Tram Nguyen and included partners Rich Assmus, Kate Ball-Dodd, Jason Bazar, Paul Chandler, Christopher Fisher, Lucas Giardelli, Musonda Kapotwe, Ryan Liebl, Brian Massengill, Stephanie Monaco, Scott Perlman, Kitty Swanson and Sanjiv Tata, counsel Kim Leffert, senior associates Harriet Hainsworth, Julian Dibbell and Sarah Reeve-Young, associates Cade Cross, Todd Davidovits, Ari Fryer, Matthew Keehn, Minju Kim, Ryan Mardini, Shanae Nelson, Tishyra Randell, Courtney Seitz, Nate’ Simmons, Grant Uhler, Hana Yampolsky and Mark Zhuang and contractor Thea Wilkinson.