Oaktree plans to buy South Carolina insurer after 777 Partners collapse

TL;DR

Oaktree plans to buy South Carolina insurer after 777 Partners collapse 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), the Financial Times (FT) reported. Funds managed by Oaktree will take control of the South Carolina, US-based insurer, which had around 6,000 in-force life insurance policies as of 2024 and more than $1.5bn in total liabilities including annuities. This follows regulatory pressure on A-Cap linked to its lending ties with the collapsed Miami investment firm 777 Partners.