The Guardian Life Insurance Co. of America has bought a stake in HPS Investment Partners, a New York-based private equity firm.
Guardian described the stake as a "minority stake."
HPS manages about $80 billion in assets.
Guardian said it will work with HPS to develop investment strategies for the insurance market and will have HPS invest a "strategically important amount of capital" in private credit arrangements.
Other companies in the life, health and annuity sectors have also announced deals.
Integrity Marketing
Integrity Marketing — a Dallas-based insurance distributor that has used private equity firm support to grow rapidly through acquisitions — has announced three new acquisitions:
Senior Advisory Insurance Services of Cicero, New York, a Medicare plan distributor that was founded in 2007. John Kulakowski, the CEO, will become an Integrity Marketing managing partner.
Global Premier Benefits of Owings Mills, Maryland, a Medicare Advantage plan and life insurance distributor that was founded in 2009. It has relationships with about 2,000 agents and agency directors and 100,000 customers. Tony Holland, the firm's CEO, will become an Integrity Marketing managing partner.
