Reinsurance Group of America, a St. Louis, Missouri-based life reinsurance provider, has made an investment in the New York City-based holding company Velocity Capital Advisors LLC through a subsidiary. Reinsurance Group of America also agreed to make a long-term investment on behalf of one or more subsidiaries of RGA. Additional financial terms of the transaction have not been disclosed.
Reinsurance Group of America proves reinsurance and financial services. The company holds approximately $3.5 trillion worth of in-force life reinsurance policies and has assets of $92.2 billion as of December 31, 2021. Velocity is an asset management company focusing on alternative investments. It provides investment services including private equity funds, fund of funds, growth capital, hedge funds, venture capital, real estate, and credit-oriented strategies.
“We are excited about our strategic relationship with Velocity, which benefits both organizations, and provides RGA with another avenue to access attractive private assets,” said Leslie Barbi, RGA’s executive vice president and chief investment officer.
RBC Capital Markets served as the financial advisor to RGA.