Oaktree to Acquire Stake in Atlantic Coast Life Insurance

The move follows regulatory pressure on A-Cap linked to its lending ties with the collapsed Miami investment firm 777 Partners.

Mar. 16, 2026 at 9:38am

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Oaktree, the distressed debt specialist owned by Brookfield, plans to acquire a controlling stake in Atlantic Coast Life Insurance Company from Advantage Capital (A-Cap). This follows regulatory pressure on A-Cap linked to its lending ties with the collapsed Miami investment firm 777 Partners.

Why it matters

The downfall of 777 Partners and the subsequent regulatory scrutiny of A-Cap's ties to the firm have prompted this move by Oaktree to invest in Atlantic Coast Life Insurance. This highlights the broader trend of private equity firms expanding into the US annuities and life insurance market.

The details

Funds managed by Oaktree will take control of the South Carolina-based insurer, which had around 6,000 in-force life insurance policies as of 2024 and more than $1.5 billion in total liabilities including annuities. A-Cap will retain the Utah-based insurer Sentinel, in which Oaktree also plans to invest. This transaction fits a broader private equity trend, with firms such as Apollo, KKR and Brookfield expanding into US annuities and life insurance.

  • The downfall of 777 Partners intensified in October when co-founder Josh Wander pursued a failed bid for UK Premier League football club Everton.
  • In October, New York federal prosecutors charged Wander with defrauding lenders and investors of $500 million.

The players

Oaktree

A distressed debt specialist owned by Brookfield that plans to acquire a controlling stake in Atlantic Coast Life Insurance Company.

Advantage Capital (A-Cap)

The current owner of Atlantic Coast Life Insurance Company, which is facing regulatory pressure due to its lending ties with the collapsed Miami investment firm 777 Partners.

Atlantic Coast Life Insurance Company

A South Carolina-based insurer that had around 6,000 in-force life insurance policies as of 2024 and more than $1.5 billion in total liabilities including annuities.

777 Partners

A collapsed Miami investment firm that had lending ties with Advantage Capital (A-Cap), leading to regulatory pressure on A-Cap.

Josh Wander

The co-founder of 777 Partners who was charged by New York federal prosecutors with defrauding lenders and investors of $500 million.

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What they’re saying

“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.”

— Patrick George, Senior Vice-President, Global Opportunities, Oaktree (Financial Times)

The takeaway

This transaction highlights the broader trend of private equity firms expanding into the US annuities and life insurance market, as they seek to capitalize on opportunities during periods of market disruption or regulatory changes affecting industry players.