Investment company Sixth Street has completed the acquisition of re/insurance company Enstar Group for $338 per ordinary share, representing a total equity value of $5.1bn.

This acquisition was first announced in July 2024.

The deal saw participation from Liberty Strategic Capital, J.C. Flowers & Co., and other institutional investors.

Enstar shareholders approved the acquisition on 6 November 2024.

Enstar CEO Dominic Silvester remarked, “This is a major moment for Enstar as we begin our next chapter as a private company.

 “Together with Sixth Street, we will build on our position as a leading global (re)insurance group, delivering innovative solutions to our partners and maintaining our competitive advantage.

“I’d like to thank our employees, past and present, whose contributions have been instrumental to achieving this milestone.”

Sixth Street co-founder and partner Michael Muscolino stated, “Enstar is a compelling company with a robust business model and an exceptional management team.

“We are thrilled to reach this milestone and look forward to partnering with Dominic and the rest of the Enstar team to help them execute on their existing strategy.”

Following the acquisition, Enstar notified NASDAQ of its intention to voluntarily delist its depositary shares and deregister them under Section 12(b) of the Securities Exchange Act of 1934.

Enstar plans to file a Form 25 Notification of Delisting with the SEC around 14 July 2025.

The company does not intend to list or register the depositary shares on another national securities exchange.

Enstar will continue as a privately held, standalone company, operating under its existing name.

Goldman Sachs acted as financial advisor to Enstar, with Paul, Weiss, Rifkind, Wharton & Garrison and Hogan Lovells US serving as legal advisors.

Ardea Partners, Barclays, and J.P. Morgan Securities advised Sixth Street, with legal counsel from Simpson Thacher & Bartlett, Debevoise & Plimpton, and Cleary Gottlieb Steen & Hamilton.