Transactions


$4 billion AUM

has outsourced the management of its general account to

has outsourced the management of its general account to

Financial advisor to Security Benefit

Financial advisor to Security Benefit

June 2009

Freeman & Co. Acted as Financial Advisor to Security Benefit
Date
June 2009
Industry
Asset Management
Transaction
Sell-Side M&A

Guggenheim Partners, LLC and Security Benefit Life (SBL) jointly announced today that a subsidiary of Guggenheim Partners will begin acting as investment advisor for Security Benefit Life's $4 billion general account

June 9, 2009 - Guggenheim Partners, LLC and Security Benefit Life (“SBL”) jointly announced today that a subsidiary of Guggenheim Partners will begin acting as investment advisor for Security Benefit Life’s $4 billion general account. The general account had previously been managed internally.

“This is a very positive development for Security Benefit Corporation and part of our planned efforts to continually improve the way we manage our business,” stated Kris Robbins, Chairman, President & CEO.

“We felt that our opportunities for growth in SBL’s general account were limited under our current structure and believe that by outsourcing this function we will ideally be able to gain access to competencies that potentially drive wider spreads and higher returns for clients which ultimately translate into benefits for our policyholders.”

Chris Phalen, Vice President of Security Benefit continued, “We chose Guggenheim because of the firm’s strength across all sectors of fixed income and its strong track record, especially during these unprecedented economic times. Guggenheim possesses a team of dedicated and highly skilled investment professionals and maintains a unique, forward-looking perspective.”

“We are very pleased that Guggenheim is Security Benefit’s partner of choice in what is a very important decision for them,” stated Scott Minerd, chief investment officer of Guggenheim Partners. “Their confidence in our abilities is a validation of our rigorous research and risk management capabilities as well as our proven expertise in fixed income and our track record of helping insurance companies manage and grow their general accounts. We look forward to a successful partnership.”