Brighthouse Financial will keep its name and its Ballantyne headquarters if a pending $4.1 billion acquisition closes by December.

New York-based Aquarian Capital LLC agreed in November 2025 to buy the life insurance and annuity giant for $70 per share in an all-cash deal, the Charlotte Business Journal reported on Monday, Sept. 14. The insurer's corporate office sits at 11225 N. Community House Road in Ballantyne Corporate Park, the 535-acre business campus that houses more than 4 million square feet of Class A office space.

Brighthouse missed its original closing deadline, and regulators in Delaware, New York and Massachusetts must still sign off before the sale can go through. The new target is December, according to the Charlotte Business Journal.

Shareholders have already voted to approve the merger. But the transaction also requires FINRA approval and a review by the Committee on Foreign Investment in the United States, tied to a funding commitment from co-investor Mubadala Capital, according to MergerSight.

Brighthouse has roughly 1,400 employees and about $243 billion in total assets. The company, spun off from MetLife in 2017, serves more than 2 million customers and ranks among the largest U.S. providers of annuities and life insurance.

Under the deal's terms, Brighthouse will operate as a standalone company within Aquarian's portfolio. President and CEO Eric Steigerwalt will stay on, according to InvestmentNews.

Aquarian founder and managing partner Rudy Sahay said when the deal was announced in November 2025 that the acquisition fit the firm's strategic focus on the U.S. retirement market. Sahay said Aquarian planned to preserve Brighthouse's approach to distribution and products while accelerating its strategy through continued investment.

Aquarian, founded in 2017, manages about $26.9 billion in assets. Co-investors including the Qatar Investment Authority and Mubadala Capital are expected to contribute more than half the capital for the purchase, according to Life Insurance International.

The deal carries a $225.5 million termination fee on the buyer's side and a $143.5 million fee on the seller's side.

State insurance regulators in three states hold the next move, with December as the new closing target.