Cinven Sells Viridium Group to Consortium
Deal News | Apr 07, 2025 | CEE Legal Matters
Cinven, a prominent international private equity firm, is planning to sell Viridium Group, a life insurance consolidator, to a consortium including Allianz, BlackRock, T&D Holdings, Hannover RE, and Generali. The proposed transaction is pending regulatory approval. Viridium, initially founded as Heidelberger Leben in 2014, has flourished under Cinven's stewardship, now managing EUR 67 billion in assets across 3.4 million policies with approximately 900 employees. The advisory for this sale is being led by the Freshfields team, which includes counsel operating from several key cities worldwide. Despite inquiries, Freshfields has refrained from further comment.
Sectors
- Private Equity
- Insurance
- Legal Services
Geography
- Europe – Cinven and Freshfields have offices across various European countries.
- Global – The consortium acquiring Viridium includes international firms with a global presence.
Industry
- Private Equity – Cinven, the target company's parent, is a private equity firm involved in the sale.
- Insurance – Viridium Group operates within the insurance sector, managing billions in life insurance assets.
- Legal Services – Legal advisory services are crucial in the transaction with Freshfields advising Cinven.
Financials
- EUR 67 billion – Assets managed by Viridium Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cinven | Selling Company | Company | An international private equity firm. |
| Viridium Group | Target Company | Company | A life insurance consolidator managing EUR 67 billion in assets. |
| Allianz | Bidding Company | Company | A leading financial services group. |
| BlackRock | Bidding Company | Company | A globally recognized asset management firm. |
| T&D Holdings | Bidding Company | Company | A Japanese insurance firm. |
| Hannover RE | Bidding Company | Company | A global reinsurance company. |
| Generali | Bidding Company | Company | An Italian insurance conglomerate. |
| Freshfields Bruckhaus Deringer | Legal Advisor | Company | An international law firm advising Cinven on the sale. |