Hildene Capital Management is set to acquire SILAC Insurance Company’s parent operation, SILAC, for $550m cash, enhancing Hildene’s insurance solutions platform. The deal is expected to strengthen Hildene’s investment and risk management strategies for SILAC’s policyholders.

SILAC, based in Indiana, operates in 48 states and the District of Columbia. Hildene has managed part of SILAC’s investment portfolio since 2023, with the transaction expanding their investment management relationship to include all investment assets.

Upon completion, SILAC’s current chief marketing officer and president, G Daniel Acker, will become CEO, succeeding Stephen Hilbert. The acquisition is set to close in mid-2026, pending regulatory approvals, with Jefferies and Kirkland & Ellis advising Hildene and Piper Sandler & Co and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo advising SILAC.

Hildene co-chief investment officer Brett Jefferson highlighted that the acquisition will improve their ability to serve policyholders and broaden product offerings. The move aims to enhance Hildene’s platform and origination capabilities, advancing their credit investing approach in asset management.

Read more at Yahoo Finance: Hildene to scale insurance business solutions with acquisition of SILAC