There are lots of effects in the video. You should specify the timeframe where the effect occurs and describe the effect; just in case there are more than one effect at play, at the specified timeframe.
I'm not certain if it's a standard transition effect found in a 3rd party effects/plugin. If I were to create it manually, then masks will be used to cut up the video. Position, Rotation and Scale transformations will then be used to move the masked areas.