Investment firm Aquarian Holdings, which is backed by private equity firm RedBird Capital Partners and Abu Dhabi state fund Mubadala, is close to finalising a $4bn take-private deal for US life insurer Brighthouse Financial, according to a report by the Financial Times.
The transaction, which could be announced as early as this weekend, would mark one of the largest recent take-privates in the US insurance sector and underscore private equity’s growing appetite for life and annuity platforms.
Sources told the FT that Aquarian has been in advanced negotiations with Brighthouse for several months, with a potential offer price of around $70 per share, as previously reported by Reuters. While discussions remain ongoing and a final agreement has yet to be confirmed, the deal would value Brighthouse at roughly $4bn.
Earlier this year, Sixth Street had also been in talks to acquire Brighthouse, though discussions reportedly cooled before Aquarian re-engaged.
