Transamerica Sells its Corporate Venture Portfolio to Montana Capital Partners
Transamerica announced today that it has reached an agreement to sell its portfolio of fintech and insurtech companies to Swiss-based private equity firm Montana Capital Partners. Following the transaction, Transamerica will continue to work with portfolio companies.
The transaction will further simplify Transamerica’s business. This is in line with Transamerica’s strategy to actively manage its portfolio of businesses, allocating capital to activities with a greater potential for an attractive return on capital, and where Transamerica is well positioned for growth. Transamerica is part of the Aegon group of companies. The transaction will not have a material impact on Aegon’s capital position and results.
About Transamerica Ventures
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica’s dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2020, Transamerica fulfilled its promises to customers, paying more than $49 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica’s corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa and Denver, Colorado. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world’s largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2020, Aegon managed over $1.1 trillion in revenue generating investments. For more information, visit www.transamerica.com.
About Montana Capital Partners
Montana Capital Partners is a Swiss-based Private Equity Firm focusing on attractive niches of the secondary market, as well as on high-quality primary investments into funds and co-investments. Montana Capital Partners successfully closed five secondary funds each at their hard cap with a total volume of more than EUR 2.7 billion and provides highly customized solutions to sellers. For more information, visit www.mcp.eu.