Aquarian Capital Set to Acquire Brighthouse Financial
Aquarian Capital LLC has officially signed a merger agreement to acquire Brighthouse Financial, Inc. for an all-cash price of $70.00 per share. This deal values the transaction at approximately $4.1 billion. It aims to enhance Aquarian Capital’s position in the U.S. retirement market, which is experiencing significant growth.
Aquarian Capital’s Strategic Intent
Rudy Sahay, founder and managing partner of Aquarian Capital, expressed enthusiasm about the acquisition. He stated that Brighthouse Financial has established a strong foundation that aligns with their vision. Aquarian Capital intends to accelerate growth by investing in Brighthouse’s distribution, products, and services.
Brighthouse Financial’s Growth Opportunities
Eric Steigerwalt, President and CEO of Brighthouse Financial, referred to this transaction as a transformative opportunity for the company. He emphasized the goal to continue helping clients achieve financial security through their robust annuity and life insurance products.
Transaction Details
The terms of the merger agreement specify that upon closing, each share of Brighthouse Financial will be exchanged for $70.00 in cash. This price reflects:
- A 37% premium over the recent closing share price of $51.09.
- A 37.7% premium over the 90-day volume-weighted average price prior to the announcement.
Brighthouse Financial will continue to operate independently under its current name and brand. The headquarters will remain in Charlotte, North Carolina, with Steigerwalt continuing as CEO.
Conditions for Closure
The merger is expected to close in 2026, pending necessary approvals such as:
- Brighthouse Financial stockholders’ approval.
- Antitrust clearance.
- Insurance regulatory approvals.
The financing for the transaction will involve committed financing without adding incremental debt to either Aquarian Capital or Brighthouse Financial.
Advisors Involved in the Transaction
A range of advisors is associated with the merger, including:
| Role | Advisors |
|---|---|
| Aquarian Capital Financial Advisor | RBC Capital Markets LLC |
| Aquarian Capital Legal Advisor | Skadden, Arps, Slate, Meagher & Flom LLP |
| Brighthouse Financial Financial Advisors | Wells Fargo and Goldman Sachs & Co. LLC |
| Brighthouse Financial Legal Advisor | Debevoise & Plimpton LLP |
This acquisition marks a significant shift in the landscape of the insurance and asset management industries, positioning both companies for future growth and innovation.
