Hildene Capital Acquires SILAC Insurance for $550M, Expanding Annuity Portfolio

Hildene Capital Management, an alternative asset manager specializing in credit with over $18 billion in assets, is set to acquire SILAC, Inc., the parent company of SILAC Insurance Company, for $550 million in cash. SILAC Insurance is a key provider of fixed and fixed indexed annuity products in the U.S. market. This acquisition underscores Hildene's strategic expansion into the insurance sector, focusing on annuity products that cater to various retirement planning needs. Kirkland & Ellis provided comprehensive legal counsel to Hildene Capital Management throughout this transaction, involving a multidisciplinary team covering corporate, tax, executive compensation, investment funds regulatory, and insurance regulatory law. The deal highlights considerable activity in the alternative asset management and insurance sectors, with implications for capital deployment in fixed income-related insurance product markets.