Advantage Capital Holdings, LLC and Oaktree Sign Master Transaction Agreement
Advantage Capital Holdings, LLC and Oaktree Sign Master Transaction Agreement
Oaktree plans to acquire Atlantic Coast Life from A-CAP
Net transaction proceeds and additional capital support provided to Sentinel Security Life Insurance Company
NEW YORK--(BUSINESS WIRE)--Advantage Capital Holdings, LLC (“A-CAP” or “the Company”), a New York-based insurance and financial services company with over $16 billion in assets under management, and funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leader among global investment managers specializing in alternative investments, have signed a master transaction agreement in which Oaktree plans to acquire a controlling stake in Atlantic Coast Life Insurance Company (“ACL”) while concurrently providing capital support to Sentinel Security Life Insurance Company (“Sentinel”) via funding a surplus note investment into a newly created captive insurance company. All of the net proceeds from these transactions will be used to support the growth and long-term objectives of Sentinel and its policyholders.
“A-CAP is pleased to work with Oaktree given its track record of investing alongside insurers, particularly during times of transition,” said Kenneth King, Chairman and CEO of A-CAP. “While we have significant work ahead of us to successfully carry out the transactions contemplated by our agreement, Oaktree’s insurance-focused credit expertise and flexible, long-term capital will support disciplined growth of our balance sheet, enhance our asset liability profile, and strengthen our ability to serve our policyholders and distribution partners over the long term.”
“We are pleased to reach agreement with A-CAP on a multifaceted transaction that we believe benefits all stakeholders of Sentinel and Atlantic Coast Life. We look forward to working with the many parties involved – namely, the state regulators, rating agencies, reinsurers, and distributors – as A-CAP and its carriers work to complete the various steps required to close the transaction” added Jake Wagner, Managing Director, Global Opportunities, at Oaktree.
“Our planned acquisition of Atlantic Coast Life is the latest in a series of insurance investments where we partner with companies during a period of market dislocation or transition,” said Patrick C. George, Senior Vice President, Global Opportunities, at Oaktree. “The company will benefit from our meaningful experience in regulated carve-outs as it works to complete its pre-closing transaction milestones. Following closing, we believe both Atlantic Coast Life and Sentinel will be well positioned to prioritize policyholder protection, financial strength, and sustainable long-term growth.”
The closing of the transactions contemplated by the master transaction agreement is subject to A-CAP performing all of its obligations thereunder, including A-CAP’s successful implementation of a series of restructuring transactions to effectuate the carve-out of ACL, as well as receipt of all required regulatory approvals and satisfaction of other customary closing conditions.
Moelis & Company LLC acted as exclusive financial advisor to A-CAP. Michelman & Robinson, LLP and Croke Fairchild Duarte & Beres LLC served as legal advisors to A-CAP.
Goldman Sachs & Co. LLC acted as exclusive financial advisor to Oaktree. Debevoise & Plimpton LLP served as legal advisor to Oaktree.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $223 billion in assets under management as of December 31, 2025. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,400 employees and offices in 26 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
About A-CAP
A-CAP is a holding company owning multiple insurance and financial businesses on its unique and synergistic platform. These businesses include primary insurance carriers, an SEC registered investment adviser, reinsurance vehicles, and marketing organizations. With broad knowledge across the insurance and investment sectors, A-CAP’s management team has diverse experience and provides comprehensive services to policyholders, insurance company clients and capital partners. Launched in 2013, A-CAP is a privately held company with offices located in New York, Charleston, Miami, and Salt Lake City. For more information, visit http://www.acap.com/.