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Venerable to transition $4.5 billion from Guardian variable products to its platform
The move would reorganize the in-scope funds through mergers into a variable insurance mutual fund trust advised by SunAmerica Asset Management, with closing expected in late 2026.
Venerable Holdings said it has reached an agreement with The Guardian Life Insurance Company of America to transition approximately $4.5 billion in separate account assets held in Guardian’s variable products trust into mutual funds advised by SunAmerica Asset Management, a Venerable subsidiary.
Under the proposed structure, the in-scope funds would be reorganized into a variable insurance mutual fund trust managed by SAAMCo through a series of fund mergers, a design intended to increase scale and growth potential while maintaining continuity of investment strategies.
Venerable said the transaction is expected to close in late 2026, subject to customary closing conditions, and characterized the deal as a way to offer a more cost efficient fund lineup on the Venerable platform.
Michal Levy, president of SAAMCo and Venerable Investment Advisers, said the agreement reflects Venerable’s platform strength and is designed to deliver a seamless outcome for policyholders and partners.