secwatch.observer — SEC 8-K summary
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Issuer:     F&G Annuities & Life, Inc. (FG)
CIK:        0001934850
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001934850-23-000020
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

F&G amends Blackstone IMA with tiered fees, extends term to 2029, adds performance-based termination
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- Management fee rates revised: 0.26% on first $25B AUM, 0.24% on $25-34B, 0.12% above $34B, effective March 31, 2023.
- Initial term of IMA Omnibus Termination Side Letter extended to June 1, 2029, with automatic two-year renewals thereafter.
- New performance-based termination right after initial term compares BIS investment performance to benchmarks; cure period provided.
- MVB Management (50% owned by BilCar, affiliate of Chairman Foley) cuts participation fee on New AUM by 50%; BilCar waives its right.
- F&G agrees to pay BilCar the waived fees over 10 years through March 2033.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1934850/000193485023000020/0001934850-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1934850/000193485023000020/fg-20230310.htm
  HTML page:      https://secwatch.observer/filing/0001934850-23-000020

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