Ares Management – a leading global alternative investment manager – announced that it had raised over $2.3 billion in equity commitments from third parties, Ares, and Ares affiliates, to support the long-term growth of Aspida.
Aspida is a life insurance and annuity company based in Durham, N.C., and supported by the Ares Insurance Solutions (AIS) business as its dedicated investment management, capital solutions, and corporate development partner. And Aspida recently closed an oversubscribed offering of $700 million in credit facilities, raising total capital to over $3 billion.
After launching four years ago, Aspida organically grew its platform to over $19 billion in total assets as of September 30, 2024. It utilizes its scalable, user-friendly technology platform to deliver high-quality customer service to its annuity and reinsurance clients. And Aspida maintains an open architecture sub-advisor selection, underscoring its focus on maximizing client returns.
As part of this structure, the AIS team manages Aspida’s assets by leveraging significant insurance investment experience, differentiated asset origination, and asset-liability and capital management solutions. And with the strength of the Ares platform, the AIS team has helped build Aspid,a a diversified portfolio of high-quality investments that is over 90% investment grade and well-matched to its liabilities.
KEY QUOTES:
“This is a remarkable milestone for Aspida, and the Ares team is proud to provide continued support through our capital investment and the AIS team’s services. Propelled by secular tailwinds, including increased life expectancy, rising health care costs and elevated expenses, retirement planners have turned to annuities to offer enhanced after-tax returns. By pairing Aspida’s spread-based business model and digital platform with AIS’s leading asset origination and investment capabilities, we believe Aspida is well-positioned to capitalize on these trends and drive continued growth and value creation for its clients and investors.”
– David Reilly and Ryan Myrick, Partners and Co-Heads of AIS
“We are excited to announce this significant achievement for Aspida, which reflects the growing demand for our versatile platform offerings and the strength of our relationship with Ares. In just four years, we are delivering on our mission to support clients’ financial security by leveraging cutting-edge technology designed to provide superior speed, service and scalability. Combined with access to Ares’ leading global investment platform, Aspida has been able to capitalize on the increasing demand for retirement solutions. On behalf of the entire Aspida team, I want to extend my gratitude to Ares and all our investors for their continued trust and confidence in Aspida’s vision and future.”
– Lou Hensley, Chief Executive Officer and President of Aspida
