Athora Holding Ltd., a European savings and retirement services group has secured over €2 billion of additional permanent equity capital commitments from new and existing shareholders, including commitments of €600 million received in December 2021.
This marks Athora’s third capital raise since its inception in 2018. It brings the company’s total equity capital raised to over €6 billion.
In each of its three capital raises, Athora has added new leading investors to the shareholder base, which is a testament to the company’s strong market positioning and attractive business model.
Moreover, the additional undrawn capital will allow Athora to continue to execute on its growth strategy, further establishing scaled positions in key European markets.
The capital raise has been conducted as a private placement of common equity securities and is expected to conclude by the end of 2022. Based on strong investor demand, the total commitments of this latest funding round are forecast to exceed €2.5 billion in aggregate by year-end.
Furthermore, Athora continues to be supported by sovereign, pension and other institutional investors, demonstrating the high-quality and long-time horizon of a leading institutional, investor base. As a sign of the long-term commitment to Athora, Apollo (including Athene) increased its common equity commitments by €600 million as part of this capital raise.
“The completion of this capital raise will allow Athora to further enhance its position as a leading European savings and retirement services Group, and it demonstrates the strength of our business model and growth strategy,” said Mike Wells, Group CEO of Athora.
“We continue to enjoy strong support from our founding shareholders and have also welcomed several new, leading institutional investors into our shareholder register. As a long-term savings and retirement services group, the support of an investor base with a long-term focus positions Athora uniquely in the industry.”
