| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 8 December 2020 |
| Pathway(s) | Significant business assets only |
| Investment | Acquisition of 15,618,696 liquidation preference shares. |
| Consideration | $55,669,619 |
| Applicants | Immortality Pte Ltd and Immortality ESC Ltd United States of America (65.07%) Various (23.89%) Cayman Islands (11.04%) |
| Vendors | Partners Group Holdings Ltd Singapore (49.82%) New Zealand (40.94%) Bermuda (4.99%) England (1.99%) Various (2.26%) |
| Background | Partners Group Holdings (PGH) operates the life insurance business Partners Life. The Applicants currently have a 49.95% legal and beneficial ownership interest in PGH. The investment will bring the Applicants’ indirect ownership interest in PGH to 54.71%. The Applicants have satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicants have also demonstrated financial commitment to the investment. |
| More information | Glenn Shewan Bell Gully (Auckland) PO Box 4199 AUCKLAND 1140 |
See the attached assessment report linked below, which was published in response to an Official Information Act request: