Ascensus and Owners Genstar Capital and Aquiline Capital Partners Welcome New Investors to Ownership Group

February 21, 2019

Willkie advised Ascensus on the transaction.

On February 19, retirement plan services provider Ascensus announced that owners Genstar Capital and Aquiline Capital Partners have welcomed new investors to their ownership group. Led by Atlas Merchant Capital LLC, the new investors will acquire just under 25 percent of Ascensus. 

Based in New York and London, Atlas Merchant Capital has deep operating and technical expertise within the financial services industry. The Atlas investor group includes GIC, Singapore's sovereign wealth fund. A leading global investment firm, GIC has investments in over 40 countries and is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate, and infrastructure. 

Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. It delivers technology and expertise to help millions of people save for retirement, education, and healthcare.

Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York and London investing in businesses across the financial services sector in banking and credit, insurance, investment management, and financial technology and services. With approximately $10 billion in assets under management, Genstar Capital is a San Francisco-based private equity firm focused on targeted segments of the financial services, software, industrial technology, and healthcare industries.

The Willkie team was led by partners Jeffrey Poss and Manuel Miranda and included associates Halie Klein and Thomas Sharkey as well as law clerk Mollie Adam.