On March 27, it was announced that Aquiline Capital Partners LLC and Genstar Capital LLC have agreed to acquire Genworth Financial Inc.’s Wealth Management business for $412.5 million. The acquisition includes both of Genworth’s Wealth Management’s businesses: Genworth Financial Wealth Management, an investment management and consulting platform, and Altegris, a provider of premier alternative investments.
With 6,300 employees, Richmond, VA-based Genworth Financial, Inc. is a leading Fortune 500 insurance holding company. New York-based Aquiline is a private equity firm investing in the financial services sector, including asset management, property and casualty insurance, banking, securities, life insurance and financial technology. Genstar is a San Francisco-based private equity firm that invests in leading middle-market companies.
In 2012, Willkie represented Aquiline in its acquisition of First Investors Financial Services Group, Inc. and a majority stake in BI-SAM Technologies.
The Willkie deal team on the current deal was led by partner Jeffrey Poss and included partners Barry Barbash, Jeffrey Goldfarb, Christopher Peters, Jordan Messinger and David Katz; of counsel Martin Miller; special counsels Kim Walker and Jonathan Konoff; and associates Manuel Miranda, Jonathan Scott, Kenneth Sicklick, Robert Kofsky, Tyler Ladner, Elliott Gluck, Geri Anne McEvoy and Jeffrey Williams.