Hildene invests in life insurance firm SILAC

The investment was $75 million for a 14.4 percent stake in SILAC, according to a source familiar with the deal.

  • Evercore, Inc. and Kramer Levin Naftalis & Frankel LLP provided financial and legal advisory services, respectively, to Hildene
  • Goldman Sachs and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. provided financial and legal advisory services, respectively, to SILAC
  • SILAC was founded in 1935

Hildene Capital Management has made a minority investment in SILAC, a Utah-based life insurance firm. The investment was $75 million for a 14.4 percent stake in SILAC, according to a source familiar with the deal.

On the transaction, Brett Jefferson, founder and co-chief investment officer of Hildene, said in a statement, “SILAC has built a market-leading annuity distribution platform, and we are excited to partner with Steve and his team at an important point in the company’s evolution. Our alliance with SILAC underscores the confidence we have in the company’s ongoing success and Hildene’s ability to source attractive investment opportunities for longer-term capital.”

Evercore, Inc. and Kramer Levin Naftalis & Frankel LLP provided financial and legal advisory services, respectively, to Hildene. Goldman Sachs and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. provided financial and legal advisory services, respectively, to SILAC.

SILAC was founded in 1935.

Founded in 2008, Hildene manages over $12 billion for a broad range of clients.