Avocet Partners Launches $500M Life Insurance Platform with EMC Life Acquisition

Avocet Partners has launched a new insurance-focused investment and operating platform with $500 million in committed equity capital, backed by Oaktree Capital Management and Lane42 Investment Partners. The platform aims to acquire, operate, and grow life insurance platforms, building an ecosystem of investment and service entities within the life insurance sector. The founding team at Avocet possesses extensive experience in managing insurance platforms across multiple market cycles and has held senior roles at major insurance and investment firms. Concurrent with its launch, Avocet has agreed to acquire EMC National Life Insurance Company from EMC Insurance, providing a nationwide platform licensed in 48 states and a team of approximately 80 professionals based in Des Moines, Iowa. This acquisition serves as the foundation for Avocet's strategy to create a scaled multi-line life and annuity insurance organization, re-investing capital to enhance EMC Life's operations and expand its product offerings, including annuities marketed through independent channels. Avocet emphasizes a long-term growth strategy focused on building a premier annuity and life insurance carrier with a strong operational base and aligned asset management expertise. The transaction, subject to regulatory approvals and demutualization of EMC National Life Mutual Holding Company, is expected to close in 2026, with EMC Life to be renamed after closing. Legal and advisory firms including Kirkland & Ellis LLP, Latham & Watkins LLP, and Oliver Wyman provided expertise during the acquisition process.