The transaction is subject to completing the works councils advisory process and regulatory approval, which are expected in the second half of 2025. NautaDutilh, alongside Stibbe and Cleary, assisted longstanding client Sixth Street, the principal shareholder of Lifetri. Sixth Street will acquire 20% of the shares of Achmea Pension & Life Insurance by contributing Lifetri and paying EUR 445 million to Achmea. Achmea will hold 80% of the shares. Achmea and Sixth Street will also collaborate on the investments for the joint venture, generating additional opportunities for value creation and growth in the pension and annuity market.
The team further consisted of (among others): Roderick Watson, Léon van der Slot, Marlies van de Meulengraaf, Laurens Spelten, Jacqueline Clement, Joost Kloosterman, Jafar Alhashime, Michaëla Ulrici and Reinier Dommerholt.
Joint venture well-positioned for further growth
The joint venture will be well positioned to seize growth opportunities in the pension buy-out market and is targeting a 20% market share. The pension reforms in the Netherlands are expected to drive further consolidation in the market of pension funds and increase demand for insured solutions particularly in the pension buy-out market. With assets exceeding EUR 1.7 trillion, the Dutch pension market is one of the largest globally. The joint venture, with a strong profile in the field of risk and capital management, asset management, and customer-focused solutions will provide an extra alternative for funds considering a pension buy-out.