Sidley Guides Athene and Apollo in US$540 Million Acquisition of Interest in Challenger
July 8, 2021
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Sidley is advising Athene Holding Ltd. and Apollo Global Management in the A$720 million (US$540 million) acquisition of an 18% minority interest in Challenger Limited, Australia’s largest provider of annuities.
Publicly traded Challenger is the preeminent platform in Australia for both annuities and investment management, with A$21 billion of life investment assets and A$104 billion of total assets under management as of March 2021.
The strategic deal represents Bermuda-based Athene’s entrance into the Australian market, and exemplifies Sidley’s ability to handle clients’ most complex global insurance and financial services transactions.