Willkie Advises on $412.5 Million Acquisition of Genworth’s Wealth Management Business

March 28, 2013

Firm represents the buyers, a partnership of Aquiline Capital Partners LLC and Genstar Capital LLC, in the transaction.

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.