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.