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Allspring Parent Rating


Allspring Global Investments has improved and retains an Average Parent rating as it operates under new leadership and takes on new initiatives.

The firm’s new owners have invested in the business. Private-equity firms GTCR and Reverence Capital jointly acquired Wells Fargo Asset Management from U.S.-based bank Wells Fargo in November 2021 and rebranded the new entity Allspring Global Investments. While Wells Fargo retains a less than 10% stake, GTCR and Reverence Capital split roughly 70% of the firm, and employees now own about 20%. The firm has already beefed up certain technologies and invested in its distribution capabilities, in part to rebuild the firm’s fledgling non-U.S. business. Meanwhile, employee ownership can help with the retention and alignment of investment talent.

CEO Joe Sullivan and newly appointed president Kate Burke (formerly with AllianceBernstein in a variety of executive roles) plan to focus growth on the backs of Allspring’s solid fixed-income business and customizable separately managed account platform, but they have plenty of industry company in fixed-income and SMA efforts. Separately, private-equity firms eventually exit their investments after five to 10 years, so some uncertainty remains.

Allspring Investments


US Open-end ex MM ex FoF ex Feeder

Total Net Assets

67.21 Bil

Investment Flows (TTM)

−2.69 Bil

Asset Growth Rate (TTM)


# of Share Classes

Morningstar Rating # of Share Classes
Not Rated 3

Morningstar Mentions

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