Sidley Advises Nassau in Strategic Partnership With Golub Capital

Sidley is representing Nassau Financial Group in a strategic partnership with Golub Capital. As part of the partnership, Nassau will receive a US$200 million minority non-voting common equity investment from Golub Capital. Nassau and Golub Capital also will enter into a long-term investment management agreement that will provide Nassau’s insurance subsidiaries with access to Golub Capital’s middle market direct lending strategies, through tailored capital-efficient solutions.

With this transaction, Golub Capital will be the largest minority equity holder in Nassau. 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.

Nassau is a leading provider of fixed annuities and asset management, with US$24 billion in assets under management. Golub Capital is a leading direct lender and credit asset manager.

The Sidley team is led by Michael Devins, Vince Onorato (both Financial Institutions – Insurance), and Blake Fillion (Investment Funds), and includes Tu Tu, James Gilmartin, (both Financial Institutions – Insurance), Joo Hee Kim (Investment Funds), Dan Altman, and Eric Grosshandler (both Tax).