Avocet Partners Launches with $500M Equity, Acquires EMC National Life Insurance

Avocet Partners, a new insurance-focused investment and operating platform, has launched with $500 million in committed equity capital from funds managed by Oaktree Capital Management and Lane42 Investment Partners. The platform is led by a founding team with significant operational experience across multiple insurance market cycles, aiming to acquire, operate, and grow life insurance platforms along with related investment and service entities. Concurrently, Avocet has agreed to acquire EMC National Life Insurance Company (EMC Life) from EMC Insurance, marking the foundation of its permanent capital strategy aimed at building a multi-line life and annuity insurance organization. The acquisition grants Avocet a nationally licensed platform operating in 48 states with around 80 professionals based in Des Moines, Iowa. Avocet plans to invest substantially in enhancing EMC Life's operations, launching annuity products distributed through independent marketing organizations, and expanding its life insurance business. The transaction is expected to close in 2026, subject to regulatory approvals and the demutualization of EMC National Life Mutual Holding Company, after which EMC Life will be rebranded. The strategic acquisition and platform launch reflect a disciplined approach by Avocet to capitalize on long-term growth opportunities in the life and annuity insurance sectors by leveraging permanent capital and operational expertise.