Sidley advised Fortitude Re, a premier provider of retroactive reinsurance and legacy run-off management solutions located in Bermuda, in the US$2.2 billion sale of a majority interest to New York-based The Carlyle Group and Tokyo-based T&D Holdings.
This strategic transaction closed in mid-2020, and demonstrates Sidley’s continued involvement in market-shaping private equity investments in the insurance industry. The deal received extensive press coverage, including in The Wall Street Journal and The New York Times, among others. Sidley also advised AIG in the sale of a minority interest in Fortitude Re to Carlyle in 2018.
Jon Kelly and Sean Keyvan led the Sidley deal team, which also included Andrew Holland, Megan Arrogante, Amy Pollak, Margaret Schwartz, Gary DeTurck, Peter Edgerton and Jingjing Lin.