Mintz advised SILAC, Inc., the parent company of SILAC Insurance Company (“SILAC”), a leading provider of fixed and fixed indexed annuity products in the US, on its definitive agreement to be acquired by Hildene Capital Management, an $18+ billion credit-focused alternative asset manager, for approximately $550 million in cash. 

The proposed acquisition marks a significant milestone in SILAC’s next chapter of growth amid strong annuities-sector tailwinds. The transaction is expected to provide SILAC with enhanced resources to drive innovation and help more consumers reach their retirement goals. It builds on Hildene’s 2022 strategic minority investment in SILAC, as well as an existing reinsurance arrangement between SILAC and Hildene Re SPC, Ltd., and follows Hildene’s management of a portion of SILAC’s investment portfolio since 2023. Upon closing, Hildene is expected to manage all of SILAC’s investment assets.

The Mintz team included Stephen J. Gulotta, Jr., Managing Member of Mintz’s New York office and Chair of the New York Corporate Practice, and Corporate Member Joseph Ronca, Of Counsel Maarten Tuurenhout, Associates Dianna Robinson and Cyrus Breese, and Law Clerk Neelam Karamchandani; Tax Member Timothy Santoli and Associate Liz Allison; Executive Compensation Member David Lagasse and Associate Dina Sebrow; and Insurance & Financial Services Member Francis Earley, who has represented SILAC since 2015. The team also included attorneys across various practice areas, including intellectual property, privacy, employee benefits, litigation, antitrust, and real estate.

More information about the deal is available here.