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Empower acquires Milliman's retirement business
PRIVATEJul 29, 2026•11 days ago
Acquiring Company
Empower
Acquired Company
Milliman
Financial ServicesOtherProfessional ServicesFinancial ServicesGovernment And Military
Description
Empower announced the acquisition of Milliman’s retirement plan and benefits administration business for $340 million on June 30, 2026. This acquisition will expand Empower’s Workplace Solutions platform with approximately $130 billion in client assets and 1.5 million participants. The deal aims to enhance Empower's capabilities in defined benefit administration and health and welfare. The transaction is expected to close in the second half of 2026, pending regulatory approvals.
Company Information
Company
Empower
Location
8515 East Orchard Road
About
Empowered Funds LLC is an investment firm focusing on acquiring interests in various sectors. It aims to enhance the value of its portfolio through strategic management. The company specializes in identifying growth opportunities and delivering returns for its investors.
