(Guardian Life) May 24, 2011 – The Guardian Life Insurance Company of America (Guardian) and independent asset manager 57 Stars LLC (57 Stars), announced the launch of an initiative to make private equity investments in select emerging markets. Guardian and 57 Stars have entered into a separate account agreement through which 57 Stars will commit roughly $100 million of Guardian capital over the next three years in private equity partnerships targeting select emerging markets in Asia, Latin America and Central and Eastern Europe.
David Turner, Managing Director and Head of Private Equity for Guardian, said: “This partnership is the culmination of over 2 years of market analysis, portfolio strategy, development of an investment thesis, and extensive search for a strategic manager/partner. This strategy will give us access to an attractive growth market through an efficient investment vehicle which supplements and complements our long-term private equity program here at Guardian. We decided to partner with the highly qualified and experienced team at 57 Stars because of their deep experience and leadership investing in these select markets.”
Steven Cowan, Managing Director at 57 Stars, said: “We are delighted to embark on this new partnership with Guardian Life, and to have the opportunity to act as an extension of its deep and experienced investment team. We have strong conviction that the investments we will make through this separate account will complement Guardian’s overall portfolio, enhance returns and reduce portfolio risk.”
A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, long-term care, disability income, group dental insurance products, and offer 401(k), annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 120,000 companies. The company has more than 5,400 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.
For more information about Guardian, please visit: www.guardianlife.com.