Avocet Partners launches with $500 million equity commitment
Avocet Partners announced its launch as a new insurance-focused investment and operating platform backed by $500 million of committed equity capital from funds managed by Oaktree Capital Management and Lane42 Investment Partners.
Avocet was formed to acquire, operate and grow life insurance platforms and establish an ecosystem of related investment and service entities.
Concurrent with its launch, Avocet has entered into a definitive agreement to acquire EMC National Life Insurance Company from EMC Insurance. The acquisition provides Avocet with a nationally licensed platform operating in 48 states and a team of approximately 80 professionals based in Des Moines, Iowa.
Avocet plans to invest “substantial capital” to enhance EMC Life’s operations and support new growth initiatives, including the launch of annuity products distributed through independent marketing organizations and other strategic channels, alongside continued expansion of EMC Life’s life insurance business.
“We are thrilled to launch Avocet in partnership with Oaktree and Lane42, two institutions that share our vision for building a platform focused on growing leading insurance companies with aligned asset management expertise to help policyholders secure retirement solutions in a time of growing need. The acquisition of EMC Life is the cornerstone of our permanent capital platform. We are not simply acquiring a company and a strong team — we are investing in a long-term strategy to build a premier, highly-rated annuity and life insurance carrier.” – Jagan Pisharath, Founder & CEO of Avocet Partners.
“With Avocet, Jagan and his team are applying deep sector expertise and a disciplined growth strategy to a segment of the insurance market with compelling long-term fundamentals. EMC Life provides a strong operating base, and we believe Avocet is well positioned to invest strategically in the business, expand its product offerings, and build a scaled platform over time.” – Thomas Casarella and Zach Serebrenik of Oaktree’s Special Situations strategy.
“On behalf of the entire EMC Life senior management team, including Mark DeVries and Paul Rivard, I want to express how proud we are of the innovative and tech-enabled platform our team members have built. We are excited to become part of Avocet Partners and believe their industry expertise, operational capabilities, and long-term capital will position EMC Life for its next phase of growth as part of a scaled insurance platform.” – Chris Frazier, President & COO of EMC Life.
Avocet’s acquisition of EMC Life is expected to close in 2026.
