Jefferies to Buy Half of Hildene as Asset Manager Acquires Silac

Jefferies Financial Group Inc. agreed to buy a 50% stake in Hildene Holding Co., a credit-focused asset manager with more than $18 billion under management, a move that comes as Hildene signed a deal to buy Silac Inc., a provider of fixed indexed annuities.

Jefferies — which has had a strategic relationship with Hildene since 2022, with Jefferies owning a revenue share in Hildene’s asset-management business — will exchange its revenue share, part of its stake in a Hildene-managed private fund and $340 million in cash for half of Hildene, according to a statement Monday. Hildene’s principals will own the rest of the firm.