Add-on Acquisition • Financial Services

Athene Acquires Petros PACE

On December 20, 2021, Athene acquired financial services company Petros PACE

Acquisition Context

This is Athene’s 4th transaction in the Financial Services sector.
This is Athene’s 8th transaction in the United States.
This is Athene’s 1st transaction in Texas.

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M&A Deal Summary
Date	December 20, 2021
Target	Petros PACE
Sector	Financial Services
Buyer(s)	Athene
Deal Type	Add-on Acquisition

Target Company

Petros PACE

Austin, Texas, United States

Petros PACE Finance LLC is a provider of low-cost, long-term commercial PACE financing, which allows commercial property owners to retrofit their buildings with renewable energy and energy efficient systems by borrowing money from a private lender and repaying the loan via a special assessment on their local property tax. Petros PACE was fomred in 2010 and is based in Austin, Texas.

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Buyer Overview 1

Buyer

Athene

Hamilton, Bermuda

Category	Company
Founded	2008
Sector	Insurance
Employees	1,983
Revenue	20.7B USD (2024)

DESCRIPTION

Athene is a life insurance holding company focused principally on the retirement market and whose business, through its subsidiaries, is focused primarily on issuing or reinsuring fixed and equity indexed annuities. Athene was formed in 2008 and is based in Pembroke, Bermuda.

Deal Context for Buyer	#
Overall	11 of 11
Sector: Financial Services	4 of 4
Type: Add-on Acquisition	6 of 6
State: Texas	1 of 1
Country: United States	8 of 8
Year: 2021	4 of 4

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2021-11-29	Aqua Finance Wausau, Wisconsin, United States Aqua Finance is a specialist lending platform that originates and services consumer loans, primarily for home improvement and water treatment. Aqua Finance was formed in 1985 and is based in Wausau, Wisconsin.	Buy	$1.0B

DATE

TARGET

DEAL TYPE

VALUE

2021-11-29

Aqua Finance

Wausau, Wisconsin, United States

Aqua Finance is a specialist lending platform that originates and services consumer loans, primarily for home improvement and water treatment. Aqua Finance was formed in 1985 and is based in Wausau, Wisconsin.

Buy

$1.0B

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