Aspida Celebrates $3 Billion Fundraising Milestone with Ares Support
Funding | Jan 09, 2025 | Ares Private Equity Group
Ares Management Corporation, a prominent global investment manager, has successfully raised over $2.3 billion in equity commitments to bolster Aspida Holdings Ltd., a life insurance and annuity company. This fundraising effort is part of a broader initiative to support Aspida's long-term growth, particularly in meeting the rising demand for retirement income solutions. Aspida's assets have organically grown to over $19 billion, supported by Ares Insurance Solutions through advanced asset management and investment strategies. This strategic move highlights Aspida's focus on leveraging technology and enhancing client service, capitalizing on trends like increased life expectancy and healthcare costs that drive demand for annuities. Aspida's achievements reflect its robust platform and strategic relationship with Ares, underscored by recently securing $700 million in credit facilities, culminating in over $3 billion in total capital raised.
Sectors
- Financial Services
- Investment Management
- Insurance
Geography
- United States – Aspida Life Insurance Company, a part of Aspida Holdings, is based in Durham, N.C., and the primary activities discussed are centered in the U.S.
- Bermuda – Aspida Re operates from Hamilton, Bermuda, contributing to the global reach of Aspida's reinsurance solutions.
- Cayman Islands – Aspida Re also maintains operations in the Cayman Islands, highlighting Aspida's global operations in the reinsurance sector.
Industry
- Financial Services – Aspida is involved in life insurance and annuity services, which are key sectors in the financial services industry.
- Investment Management – Ares Management Corporation is a global investment manager, focusing on providing capital and creating value across various asset classes.
- Insurance – Aspida operates in the insurance sector, focusing on life and annuity products, and reinsurance solutions.
Financials
- $2.3 Billion – Equity commitments raised by Ares Management to support Aspida.
- $700 Million – Recently closed offering in credit facilities to further finance Aspida.
- $3 Billion – Total capital raised combining equity commitments and credit facilities for Aspida.
- Over $19 Billion – Aspida's total assets as of September 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ares Management Corporation | PE Firm/Fundraiser | Company | A global alternative investment manager responsible for raising equity commitments to support Aspida's growth. |
| Aspida Holdings Ltd. | Target | Company | A life insurance and annuity company being supported by Ares Management's fundraising efforts. |
| David Reilly and Ryan Myrick | Co-Heads of AIS | People | Partners at Ares Insurance Solutions, overseeing asset management for Aspida. |
| Lou Hensley | CEO and President of Aspida | People | Leading Aspida’s strategic growth and expressing gratitude for Ares' support. |