Aquarian Capital to acquire Brighthouse Financial
Holding company Aquarian Capital is acquiring Brighthouse Financial, a provider of life insurance and annuities, for $70 per share in an all-cash transaction valued at approximately $4.1 billion.
The transaction positions Brighthouse Financial to pursue strategic growth opportunities and strengthen its ability to continue to serve its customers, distribution partners and other stakeholders. Aquarian Capital plans to invest in Brighthouse Financial’s platform and distribution franchise while enhancing product design, development and innovation. Aquarian Capital also plans to bolster Brighthouse Financial’s investment management capabilities through a strategic relationship with Aquarian Investments, Aquarian Capital’s investment management platform.
Following the closing of the transaction, Brighthouse Financial will operate as a standalone entity within the Aquarian Capital portfolio. Eric Steigerwalt will continue as President and Chief Executive Officer of Brighthouse Financial, and the company will continue to be headquartered in Charlotte, North Carolina, with the same name and brand.
The transaction is expected to close in 2026 and is subject to customary closing conditions, including approval by Brighthouse Financial’s common stockholders, antitrust clearance and the receipt of insurance regulatory approvals.
The merger consideration will be funded with committed financing without incremental debt financing at the Aquarian Capital insurance businesses or Brighthouse Financial.
“The acquisition of Brighthouse Financial aligns perfectly with our strategic focus on the United States retirement market, which represents a significant and growing opportunity. Brighthouse Financial has built a strong foundation, and we are excited to support the Company in its next phase of growth. We plan to preserve Brighthouse Financial’s disciplined and thoughtful approach to distribution, products and services while accelerating its strategy through continued investment and customer focus.” – Rudy Sahay, Founder and Managing Partner of Aquarian Capital.
“This transformative transaction marks an exciting new chapter for Brighthouse Financial and is the culmination of a process initiated by our Board of Directors earlier this year. As one of the largest providers of annuities and life insurance in the United States, we’re thrilled to partner with Aquarian Capital to continue to deliver on our mission of helping people achieve financial security through our best-in-class distribution franchise, as well as our innovative suite of Shield annuity products, and our work with BlackRock on LifePath Paycheck. In addition, we believe this transaction will deliver clear and compelling value to our stockholders. We look forward to embarking on this next phase of our journey together with Rudy and Aquarian Capital.” – Eric Steigerwalt, President and Chief Executive Officer of Brighthouse Financial.
