Press release
Jackson Financial Inc. and TPG Inc. Announce Long-Term Strategic Partnership
Jackson, a leading U.S. retirement services firm, and TPG Inc., a leading global alternative asset management firm, announced the formation of a strategic
About this update from Tpg Inc.
[{"type":"text","content":"\nJackson, a leading U.S. retirement services firm, and TPG Inc., a leading global alternative asset management firm, announced the formation of a strategic partnership\n\n\nTPG to complement PPM America, Inc.’s investment management capabilities with Investment Grade Asset Based Finance and Direct Lending investment capabilities\n\n\nJackson has established Hickory Re, a wholly owned Michigan-based captive reinsurer, to support the capital-efficient growth of its fixed and fixed index annuity sales\n\n\nJackson will receive a $500 million common equity investment from TPG to be used as additional capital to support the Company’s future growth in its spread-based business; Jackson will also receive $150 million in TPG common stock\n\n\nPartnership to accelerate Jackson’s growth strategy and create opportunities for future initiatives to meet the strong demand for consumer value-oriented products, and drive long-term value for stakeholders\n\n\n LANSING, Mich.--(BUSINESS WIRE)--\nJackson Financial Inc.1 (NYSE: JXN) (Jackson®) announced today that it has entered a long-term strategic partnership with TPG Inc. (NASDAQ: TPG), combining the strength of Jackson’s annuity product expertise and broad distribution network with TPG’s best-in-class, scaled private credit platform. The partnership aims to expand Jackson’s spread-based product sales and to provide flexibility for future innovative insurance solutions. The benefits of this strategic partnership include increased opportunities for new business and earnings diversification, enhanced profitability and greater long-term value for Jackson stakeholders.\n\n\n“Today marks a significant milestone for Jackson’s next phase of growth and our commitment to provide long-term value for all stakeholders,” commented Laura Prieskorn, President and Chief Executive Officer of Jackson. “I am proud to form this strategic partnership with an organization that shares our commitment to delivering world-class performance through a collaborative and client-centric approach. The complementary strengths of Jackson and TPG will enhance our competitiveness in the market, supporting our efforts to bring more value to consumers to meet the growing needs of Americans seeking financial security in retirement.”\n\n\n“Over the past several years, TPG has achieved meaningful growth in insurance capital across ou...