Partners’ Life sale: $1b shared between many

Founder Naomi Ballantyne said a trade-sale easier and preferable option to an initial public offer. (Photo: Partners' Life)

Dan Brunskill

Wed, 17 Aug 2022

The sale of Partners’ Life to Japanese conglomerate Dai-ichi Life for $1 billion will be a considerable payday for those who have backed the firm over the past 12 years.Not least of these are founder Naomi Ballantyne and other core staff who have earned equity over the years. Their collective stake is pooled in a nominee company which holds 21% of the company, worth $210 million.The bulk of the billion will be handed to investment behemoth Blackstone which owns 52% of Partners’ Life through an investment vehicle called Immortality L...

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