Kirkland & Ellis represented private investment management firm Centerbridge Partners in connection with a $1.3 billion capital raise for life and annuity reinsurer Martello Re Limited. The capital raise includes $935 million in equity and a $360 million upsizing of the company’s credit facility. Centerbridge is one of Martello Re’s founders and financial supporters. Centerbridge, along with Massachusetts Mutual Life Insurance Company, Brown Brothers Harriman and a group of institutional investors, launched Martello Re in 2022.

The Kirkland team included corporate partners Rajab Abbassi and Kimberly Han and investment funds partners Erica Berthou, Bryan McGee and Linda Dahl.