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Athene to Buy Stake in Home-Improvement Lender Aqua From Blackstone

  • Investment in Aqua Finance will be managed by Apollo
  • Blackstone will retain minority stake in company after close
Operations Inside The Sprout Tiny Homes Production Facility As Construction Spending Figures
Photographer: Matthew Staver/Bloomberg
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Athene Holding Ltd., the insurer, has agreed to acquire a controlling stake in consumer lender Aqua Finance, its latest in a series of deals meant to help it find more unusual kinds of debt to invest in. 

The purchase values Aqua, which essentially lends to consumers that are financing home improvement projects, at around $1 billion. Athene is purchasing from Blackstone, which will maintain a minority stake.