Hartford financial services company Nassau Financial Group announced it has closed on a $200 million equity investment, the latest in a series of recent financial moves by the provider of fixed annuities and asset management services.
Nassau said it has received the minority, non-voting common equity investment from Golub Capital, a New York-based direct lender and private credit asset manager.
As part of the deal, Nassau and Golub Capital also entered into a long-term investment management agreement that will provide Nassau’s insurance subsidiaries with access to Golub’s middle market direct lending strategies, the companies said.
Golub Capital is now the largest minority equity holder in Nassau, following investments from Fortress Investment Group in 2023, and Wilton Reassurance Co. and Stone Point Credit in 2021.
Last February, the company announced it closed on a $150 million revolving credit facility and $100 million term loan credit facility.
Nassau was founded with an initial capital commitment, along with subsequent growth capital, provided by Golden Gate Capital, which remains Nassau’s majority controlling equity holder.
Goldman Sachs served as exclusive financial advisor and Sidley Austin LLP served as legal advisor to Nassau. Morgan Stanley & Co. served as exclusive financial advisor and Kirkland & Ellis and Foley Hoag served as legal advisors to Golub Capital.
