Add-on Acquisition • Financial Services

Aquarian Holdings Acquires Brighthouse Financial

On November 6, 2025, Aquarian Holdings acquired financial services company Brighthouse Financial for 4.1B USD

Acquisition Context
  • This is Aquarian Holdings’ 2nd transaction in the Financial Services sector.
  • This is Aquarian Holdings’ largest (disclosed) transaction.
  • This is Aquarian Holdings’ 3rd transaction in the United States.
  • This is Aquarian Holdings’ 1st transaction in North Carolina.

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M&A Deal Summary

Date November 6, 2025
Target Brighthouse Financial
Sector Financial Services
Buyer(s) Aquarian Holdings
Deal Type Add-on Acquisition
Deal Value 4.1B USD
Advisor(s) Wells Fargo Securities (Financial)
Debevoise & Plimpton (Legal)

Target Company

Brighthouse Financial

Charlotte, North Carolina, United States
Brighthouse Financial is a financial services company that offers life insurance and annuity products. Brighthouse Financial’s solutions include fixed, variable and indexed annuities, as well as term, whole and universal life insurance policies. Brighthouse Financial is based in Charlotte, North Carolina.
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Buyer Overview 1

Buyer

Aquarian Holdings

New York, New York, United States

Category Company
Sector Diversified
DESCRIPTION

Aquarian Holdings is a diversified holding company with interests in businesses including insurance, asset management, real estate, and technology. The Company draws on its experience to provide debt and equity capital solutions that meet the objectives of our partners and portfolio companies. Aquarian Holdings is based in New York.


Deal Context for Buyer #
Overall 4 of 4
Sector: Financial Services 2 of 2
Type: Add-on Acquisition 2 of 2
State: North Carolina 1 of 1
Country: United States 3 of 3
Year: 2025 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-30 Pace Equity

Milwaukee, Wisconsin, United States

Pace Equity is a provider of funding for commercial property-assessed clean energy (C-PACE) projects offering private capital to fund components of a commercial building’s construction budget that have measurable water, energy, or renewable resource savings. Pace Equity is based in Milwaukee, Wisconsin.

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