In 2008, Perry Shwachman, a Legal 500 Hall of Famer for non-contentious insurance, was instructed to act on the formation of a new insurance carrier that had ‘aspirations to become a leading retirement services company.’ Unbeknownst to him, the transaction would prove pivotal for both Shwachman and his firm, Sidley Austin, more broadly.
Athene, the newly created insurance provider that Shwachman advised, was brought to life by Apollo, marking one of private capital’s first forays into the life insurance market. The deal kick-started a series of unions between insurers and private capital that has been blossoming ever since.