Aquiline and Genstar to Acquire Genworth Financial’s Wealth Management Business

April 8, 2013

On March 27, 2013, Aquiline Capital Partners and Genstar Capital announced that, in partnership, they had reached an agreement to acquire Genworth Financial Wealth Management and Altegris, an alternative solutions provider, from Genworth Financial, Inc. (NYSE: GNW) for approximately $412.5 million.


On March 27, 2013, Aquiline Capital Partners and Genstar Capital announced that, in partnership, they had reached an agreement to acquire Genworth Financial Wealth Management and Altegris, an alternative solutions provider, from Genworth Financial, Inc. (NYSE: GNW) for approximately $412.5 million.  The sale is expected to close in the second quarter of 2013 and is subject to customary closing conditions and regulatory approval.  Genworth Financial is an insurance holding company headquartered in Richmond, VA.

Aquiline Capital, a New York-based private equity firm, invests in financial services enterprises.  Genstar Capital is a private equity firm based in San Francisco investing in the financial services, software, healthcare, and industrial technology industries.  Acquiline and Genstar were advised by Deutsche Bank in connection with the transaction.

To read the press release, please click here.


Categories

Hedge Fund M&A, Hedge Fund Private Equity, Investment Manager M&A, Investment Manager Private Equity, Mutual Fund M&A, Mutual Fund Private Equity, Transactions