Skadden is representing Aquarian Capital LLC in connection with its announcement that an affiliate of the company will acquire Brighthouse Financial, Inc. in an all-cash transaction valued at approximately $4.1 billion. Brighthouse Financial will operate as a standalone entity within the Aquarian Capital portfolio following the close of the transaction. The transaction is expected to close in 2026 and is subject to customary closing conditions.
Aquarian Capital is a diversified global holding company with a portfolio of insurance and asset management solutions. Brighthouse Financial is a provider of annuities and life insurance in the U.S.
The Skadden team includes Todd Freed, Patrick Lewis, Chris Ulery, Joe Penko and Dwight Yoo.