Athene Holding Ltd. announcement that it has entered into a definitive agreement to acquire Foundation Home Loans, a UK-based specialist mortgage lender, from funds managed by subsidiaries of Fortress Investment Group LLC. As of June 2021, FHL had a Â£ 3 billion (roughly $ 4.14 billion) portfolio of specialist rental and property mortgages on its balance sheet. Financial terms of the acquisition were not disclosed. The investment in FHL will be managed by the team at Apollo Global Management, Athene’s strategic asset management partner. The deal with FHL, a leader in providing high-quality residential mortgages, is expected to provide Athene with attractive investment opportunities in high-quality yielding assets. Bermuda-based Athene through its subsidiaries, including Iowa-based Athene USA, is a retirement services company with total assets of $ 205.7 billion. Athene and Apollo announced in March their intention to merge, a transaction expected to close in January 2022.