Sixth Street in Its Strategic Partnership With Achmea and the Merger of Lifetri’s and Achmea’s Pension and Life Portfolios

Cleary Gottlieb is representing long-standing client Sixth Street in connection with its strategic partnership with Achmea and the merger of Lifetri’s and Achmea’s pension and life portfolios to create one of the leading Dutch pension and life insurance providers.

The joint venture, which will operate under the name Achmea Pension & Life Insurance, will rank among the top three Dutch pension and life insurance providers in terms of customer base, serving over 2.1 million customers. Sixth Street, the principal shareholder of Lifetri, will acquire 20% of the shares of Achmea Pension & Life Insurance by contributing Lifetri and paying €445 million to Achmea. Achmea will hold 80% of the shares.

Since its initial investment in Lifetri in 2018, Sixth Street has been a long-term strategic partner committed to the Dutch market and now extends that commitment to the joint venture. 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 transaction is subject to completing the works councils advisory process and regulatory approval(s), which are expected in the second half of 2025.

For more information, please see the press release.