JAB Diversifies Beyond Consumer Goods and Services
13 Mayo 2024 - 4:00AM
Business Wire
Anant Bhalla Joins as Senior Partner and
Chief Investment Officer
JAB will build a global insurance platform and establish an
asset management company under the leadership of Anant Bhalla, who
has joined as Senior Partner and Chief Investment Officer.
“This is the next phase of JAB’s evolution into a more
diversified investment firm,” said Peter Harf, Managing Partner,
Founder, and Chairman of JAB. “With this milestone, we are ideally
positioned to deliver sustainable, long-term shareholder value for
generations to come.”
Joachim Creus, Managing Partner, Vice Chairman, and CEO of JAB,
added: “In 2012, Peter set in motion a long-term strategic vision
to transform a family office into a leading investment firm in
consumer goods and services. Today, JAB manages more than $50
billion of assets, including a fast-growing pet insurance business.
We will expand on our success in insurance with the build out of a
global insurance platform and asset manager led by one of the most
successful veterans in the industry. Anant is an incredible talent
with a proven track record of creating sustainable value through
the convergence of asset management and insurance. We are very
fortunate to welcome him to the JAB Partnership.”
JAB has already built one of the world’s leading pet insurance
businesses. Through Independence Pet Holdings and Pinnacle Pet
Group, JAB owns 20+ pet insurance brands that operate in 10+
countries, insure 5+ million pets, and will generate more than $3
billion in global revenues in 2024. Pet insurance is one of the
fastest growing insurance verticals, benefiting from the
humanization of pets. The industry is highly under-penetrated and
expected to continue to grow rapidly over the next decade and
beyond.
“Pet insurance, which sits at the crossroads of consumer
products and insurance, was a natural first step into insurance for
JAB,” added Frank Engelen, Managing Partner, and CFO of JAB. “As we
expand beyond consumer, our priorities include creating a global
insurance business and thematic asset management capabilities,
significantly diversifying JAB’s investment portfolio for the
benefit of our shareholders.”
Bhalla will oversee the development of JAB’s global insurance
business and its asset management business focused on insurance
balance sheet investing across thematic sectors beyond consumer
goods and services.
“The future of insurance is permanent capital,” added Bhalla. “I
couldn’t be more excited to join Peter, Joachim, and Frank as they
shape the evolution of the JAB ecosystem for future generations,
and I am energized by the art of the possible for the insurance
marketplace as we tap JAB’s permanent, perpetual capital base.”
Before joining JAB, Bhalla had been President & CEO of
American Equity Investment Life Holding Company (AEL) since 2020,
ultimately leading its take private sale to Brookfield Reinsurance
at a valuation of $4.3 billion, representing a 3+ times total
shareholder return over his tenure at AEL. He previously served as
a public company CFO of Brighthouse Financial, Inc. as it spun out
of MetLife in 2017 and, before that, CFO of MetLife’s U.S. Retail
Insurance Businesses. Over the past 24 years, Bhalla has also
served in numerous senior roles in insurance and asset management
at Fortune 500 companies, including American International Group,
Lincoln National Corporation, and Ameriprise Financial.
About JAB
Today, JAB is an investment holding company that invests in
consumer-focused industries with attractive long-term dynamics,
including strong growth prospects, attractive margin and cash flow
characteristics, and proven resiliency. JAB is the anchor
shareholder of Keurig Dr Pepper Inc., a leader in the North
American beverage industry, and Krispy Kreme, Inc. a global leader
in doughnuts and other premium-quality sweet treats. JAB is also
the controlling shareholder of Coty Inc., a global leader in
beauty. Together with JAB Consumer Partners, JAB is the controlling
shareholder of JDE Peet’s, the world’s leading pure play coffee and
tea company; National Veterinary Associates, one of the world’s
largest animal care services platforms; Independence Pet Holdings,
a leading provider of pet insurance in North America; Pinnacle Pet
Group, a leading provider of pet insurance in Europe; Panera Brands
Inc., one of the world’s largest fast casual restaurant companies,
which includes Panera Bread, Caribou Coffee and Einstein Bros.
Bagels; Pret A Manger, a leading company in the ready-to-eat fresh
food market; and Espresso House, the largest branded coffee shop
chain in Scandinavia. JAB Holding Company also owns luxury goods
company Bally.
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The One Nine Three Group (193) for JAB Zach Siegel:
zach@the193.com