Golub Capital has agreed to invest $200 million in Nassau Financial, an annuity issuer, and Nassau Financial has agreed to use Golub's investment services.
Golub is an asset manager known for running direct-lending programs and managing private credit assets.
Golub would get non-voting stock in Nassau, and the deal would make Golub Nassau's biggest minority shareholder. Golden Gate Capital continues to be the insurer's controlling shareholder.
Nassau could use Golub's cash to expand its own operations or make acquisitions, the companies said.
What it means: Some other annuity issuers said they have a hard time getting enough capital to take advantage of every annuity sales opportunity.
Golub may be fueling Nassau with the capital it needs to expand annuity sales.
