Aspen Insurance to be Acquired by Apollo Funds for $2.6 Billion

August 28, 2018

Willkie represented Aspen Insurance Holdings Limited in its agreement to be acquired by certain investment funds affiliated with Apollo Global Management LLC, a leading global alternative investment manager.

On August 28, it was announced that certain investment funds affiliated with Apollo Global Management, LLC (NYSE: APO), a leading global alternative investment manager, has agreed to acquire Willkie client Aspen Insurance Holdings Limited (NYSE: AHL) for $42.75 per share in cash, representing an equity value of approximately $2.6 billion. The transaction will provide Aspen with additional scale and access to Apollo’s investment and strategic guidance.

Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly owned subsidiaries and offices in Australia, Bermuda, Canada, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. For the year ended December 31, 2017, Aspen reported $12.9 billion in total assets. Apollo had assets under management of approximately $270 billion as of June 30, 2018 in private equity, credit and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.

The Willkie deal team was led by partners Michael Groll and Rajab Abbassi, and included partners Joseph Ferraro and Tariq Mundiya, and associates Ted Powers and Kurt Lyn.