Annexus, an annuities and insurance-based retirement product provider, has received an undisclosed investment from Blackstone.
Blackstone Tactical Opportunities made a strategic investment into Annexus for a minority stake. By working together, Blackstone is hoping to help the InsurTech to expand its distribution channels and create innovative offerings which ease retirement for customers.
Arizona-based Annexus creates solutions to help Americans protect their retirement savings. The company offers annuities, which are a contract formed with insurance companies to help accumulate money for retirement.
Annexus partners with various financial institutions to design retirement income planning solutions.
Annexus co-founder Ron Shurts said, “Strategic partnerships are the strength and foundation of the Annexus model. This opportunity brings two world-class teams together who share a vision of revolutionizing the insured retirement market with disruptive technologies and innovative solutions.”
Houlihan Lokey acted as the financial advisor to Annexus, while Evercore served as financial advisor for Blackstone.
Late last year, Blackstone made a capital injection into alternative investments solution developer iCapital Network. The company is an online investment platform helping to give individual investors access to the alternatives market, with a minimum investment value of £100,000 per fund.
Just days after Blacksone invested into iCapital, Carlyle also deployed funds into the company.
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