Nassau receives $200m minority equity investment from Golub Capital

Nassau Financial Group, an insurance and financial services company, and Golub Capital, a credit asset management firm, have closed their strategic partnership, with Nassau receiving a $200 million minority non-voting common equity investment from Golub Capital.

The partnership, initially announced in June 2024, also included the establishment of a long-term Investment Management Agreement. This agreement enables Nassau’s insurance subsidiaries to access Golub Capital’s middle-market direct lending strategies through customised, capital-efficient solutions.

The investment supports Nassau’s growth initiatives, including organic expansion, acquisitions, and strengthening its balance sheet.

Golub Capital is now Nassau’s largest minority equity holder, following previous investments by Fortress Investment Group in 2023 and Wilton Reassurance Company and Stone Point Credit in 2021.

Nassau was founded with an initial capital commitment and subsequent growth funding from Golden Gate Capital, which remains its majority controlling equity holder.

Goldman Sachs acted as Nassau’s exclusive financial advisor, with legal counsel from Sidley Austin LLP. For Golub Capital, Morgan Stanley & Co. LLC served as exclusive financial advisor, while Kirkland & Ellis and Foley Hoag served as legal advisors.

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