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January 24, 2026
Sidley Guides Nassau in Strategic Partnership With Fortress

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AI-made summary
- Sidley advised Nassau Financial Group in forming a strategic partnership with Fortress Investment Group, which included a US$130 million minority non-voting common equity investment from Fortress
- Nassau also entered a long-term investment management agreement granting its insurance subsidiaries access to Fortress’ credit investment strategies
- Following the transaction, Fortress holds approximately 7.7% of Nassau, while Golden Gate Capital remains the majority controlling shareholder
- The Sidley team was led by Michael Devins and included several other specialists.
Sidley represented Nassau Financial Group in a strategic partnership with Fortress Investment Group. As part of the partnership, Nassau received a US$130 million minority non-voting common equity investment from Fortress. Nassau also entered into a long-term investment management agreement with Fortress, whereby Nassau’s insurance subsidiaries will have full access to Fortress’ credit investment strategies.
With this transaction, Fortress owns approximately 7.7% of Nassau, with Golden Gate Capital remaining Nassau’s majority controlling shareholder.
Nassau is a leading provider of fixed annuities and asset management, with US$23 billion in assets under management. Fortress is a leading, highly diversified global investment manager, with US$44.7 billion of assets under management. Golden Gate Capital is a private equity investment firm with over US$19 billion in cumulative committed capital.
The Sidley team was led by Michael Devins (Insurance), and included Vince Onorato, Chris Burusco, Tu Tu (Insurance), Dan Spies, Allison Hocevar (Investment Funds), Dan Altman, Eric Grosshandler (Tax), Gabe Saltarelli (M&A), Lauren Gallagher, and P.C. Wang (Employee Benefits).~~Sidley represented Nassau Financial Group in a strategic partnership with Fortress Investment Group. As part of the partnership, Nassau received a US$130 million minority non-voting common equity investment from Fortress. Nassau also entered into a long-term investment management agreement with Fortress, whereby Nassau’s insurance subsidiaries will have full access to Fortress’ credit investment strategies.
With this transaction, Fortress owns approximately 7.7% of Nassau, with Golden Gate Capital remaining Nassau’s majority controlling shareholder.
Nassau is a leading provider of fixed annuities and asset management, with US$23 billion in assets under management. Fortress is a leading, highly diversified global investment manager, with US$44.7 billion of assets under management. Golden Gate Capital is a private equity investment firm with over US$19 billion in cumulative committed capital.
The Sidley team was led by Michael Devins (Insurance), and included Vince Onorato, Chris Burusco, Tu Tu (Insurance), Dan Spies, Allison Hocevar (Investment Funds), Dan Altman, Eric Grosshandler (Tax), Gabe Saltarelli (M&A), Lauren Gallagher, and P.C. Wang (Employee Benefits).
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