A somewhat complicated ownership structure Who are Venerable's owners? The short answer is that Apollo Global Management, Crestview Partners and Reverence Capital Partners each own 23 percent of the company, while Athene holds 21 percent and Voya has 10 percent. But who ultimately controls the business is more complicated, as described in this excerpt from Venerable's approved acquisition application with the Iowa Insurance Division: "The complex structure of the proposed acquisition has resulted in multiple ultimate controlling persons in this application. The acquiring party, Venerable, is a wholly owned subsidiary of VA Capital. VA Capital is in turn controlled, through intermediaries, by Athene Holding, Apollo Global Management, Crestview Partners, and Reverence's management vehicle, RCP GenPar HoldCo. Athene Holding and Apollo Global Management are each controlled by Leon Black, Joshua Harris, and Marc Rowan.