Blackstone Makes Strategic Investment In Annexus
January 10, 2019 by Annexus
SCOTTSDALE, Ariz., Jan. 8, 2019 /PRNewswire/ — Annexus, a leading designer of annuities and insurance-based retirement products, and Blackstone, one of the world’s leading investment firms, announced that funds advised by Blackstone Tactical Opportunities (“Blackstone”) have made a strategic investment in Annexus, acquiring a minority stake in the company.
Menes Chee, a Blackstone Senior Managing Director, said: “We are pleased to partner with Annexus and support the company in its next phase of growth. We look forward to working with the Annexus team as they continue to expand their distribution channels and create innovative new product offerings that help deliver a secure retirement to their customers.”
“We offer solutions uniquely positioned to solve some of the biggest retirement risks facing Americans today,” said Annexus Co-Founder Don Dady. “Our partnership with Blackstone further signals the important role annuities can play as the cornerstone of a modern retirement portfolio.”
“Strategic partnerships are the strength and foundation of the Annexus model,” said Annexus Co-Founder Ron Shurts. “This opportunity brings two world-class teams together who share a vision of revolutionizing the insured retirement market with disruptive technologies and innovative solutions.”
Houlihan Lokey served as financial advisor to Annexus and Evercore served as financial advisor to Blackstone. The transaction and financial terms were not disclosed.
About Annexus
Annexus designs solutions to help Americans grow and protect their retirement savings. For over a decade, Annexus has developed market-leading fixed indexed annuities and indexed universal life insurance products. Annexus has forged relationships with many of the industry’s leading insurance carriers and the world’s largest investment banks. Find out more about Annexus and its products at www.annexus.com.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $457 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
SOURCE Annexus
Related Links
http://www.annexusgroup.com
