Transamerica

Transamerica's general-account investments are managed by Aegon Asset Management, a wholly owned affiliate of Aegon Ltd. President and CEO Will Fuller sets the strategic direction for the United States operation, but day-to-day portfolio construction and manager selection are executed by Aegon AM teams in Cedar Rapids, Baltimore, and Denver.

Transamerica sources real estate through Aegon Asset Management's real assets platform, which maintains in-house teams for commercial equity, commercial mortgage loans, and agricultural investments. The portfolio includes direct ownership of the iconic Transamerica Pyramid in San Francisco, held as a long-duration trophy asset rather than a tradeable position.

Transamerica's general account participates in private equity primarily through fund commitments rather than direct company investments. The firm has historically focused on real estate, infrastructure, and private credit, with venture exposure limited to fintech and retirement-tech adjacencies through Aegon's corporate venture arm.

Aegon Ltd., headquartered in the Netherlands, requires Transamerica to comply with both Dutch Solvency II regulations and United States risk-based capital requirements. This dual regulatory framework forces a conservative, long-duration asset-liability matching strategy, with a bias toward fixed-income and income-producing real assets that qualify for favorable capital treatment under both regimes.

Transamerica integrates Aegon's responsible investment policy, which screens for climate risk, governance, and social factors across the general account. The firm has made targeted allocations to renewable energy infrastructure and affordable housing mortgages, though it does not operate a standalone impact fund — sustainability objectives are embedded within existing asset-class mandates rather than carved out separately.

Transamerica allocates a portion of its general account to external hedge funds through Aegon Asset Management's alternatives team, with a focus on relative-value fixed-income, global macro, and reinsurance-linked strategies that complement the liability-driven investment framework. Manager selection emphasizes alignment with Solvency II capital-efficiency requirements.

The Transamerica Foundation is a separate 501(c)(3) entity funded by corporate contributions and employee payroll deductions. It focuses on health care access, financial literacy, and education in communities where Transamerica employees live and work. The Transamerica Institute, a nonprofit focused on retirement-security research, operates alongside the foundation as a distinct public-education vehicle.

Developer Michael Shvo and partners purchased the Transamerica Pyramid in San Francisco in 2020 for $650 million. Transamerica remains a tenant and brand licensor, and the building's art and cultural programming — including the Transamerica Art Collection and sculptural installations by Max Ernst and Les Lalanne — are curated collaboratively between the company and Shvo's ownership group.