Brookfield Reinsurance announced the conclusion of its acquisition of American Equity Investment Life Holding Company (AEL) in a significant cash and stock transaction valued at $56.50 per share, consolidating Brookfield’s position in the fixed annuity space and elevating its insurance assets under management (AUM) to over $100 billion. Jon Bayer, Managing Partner at Brookfield, expressed enthusiasm about the addition of AEL’s robust franchise to Brookfield’s growing portfolio and its potential to advance their retirement services capabilities. The transaction promises to preserve AEL’s headquarters in Des Moines, Iowa, signaling a commitment to job growth in the region and continued charitable contributions. The advisory team composed of Barclays, BMO Capital Markets, and law firms such as Cravath, Swaine & Moore LLP, Debevoise & Plimpton LLP, and Torys LLP for Brookfield, along with Ardea Partners, J.P. Morgan, and Sullivan & Cromwell LLP for AEL, were instrumental in the deal. This strategic move is expected to enhance Brookfield’s scale and service offerings, positioning it for future growth in the insurance sector.

Insurance and Reinsurance, Private Equity, Legal and Financial Advisory Services,United States, Canada