JAB Holdings, the biggest investor in Pret A Manger, Krispy Kreme and Coty, will launch a global insurance platform and establish an asset management company. According to the company’s statement, Anant Bhalla, who has joined as senior partner and chief investment officer, will oversee the development of JAB's global insurance and asset management businesses. The new businesses will focus on insurance balance sheet investing across thematic sectors beyond consumer goods and services. Peter Harf, managing partner, founder and chairman of JAB, says: “This is the next phase of JAB’s evolution into a more diversified investment firm. “With this milestone, we are ideally positioned to deliver sustainable, long-term shareholder value for generations to come.” Joachim Creus, managing partner, vice chairman and CEO of JAB, adds: “Today, JAB manages more than US$50 billion of assets, including a fast-growing pet insurance business. We will expand on our success in insurance with the buildout of a global insurance platform and asset manager led by one of the most successful veterans in the industry. Anant is an incredible talent with a proven track record of creating sustainable value through the convergence of asset management and insurance.” Meanwhile, Bhalla comments: “The future of insurance is permanent capital. I am energised by the art of the possible for the insurance marketplace as we tap JAB’s permanent, perpetual capital base.”
