Enstar Marks New Chapter with Sixth Street Acquisition
Deal News | Jul 02, 2025 | Stone Point Capital LLC
Enstar Group Limited, a major player in the global insurance market, has been acquired by investment vehicles managed by Sixth Street for a total of $5.1 billion in cash. Sixth Street, along with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors, completed the acquisition at $338.00 per ordinary share, marking a new phase for Enstar as a private company. Enstar's CEO, Dominic Silvester, expressed enthusiasm about the future partnership with Sixth Street to enhance their global (re)insurance solutions. The acquisition means that Enstar will delist its shares from NASDAQ, continuing operations as a private entity. Financial and legal advisors included Goldman Sachs and Paul, Weiss, Rifkind, Wharton & Garrison LLP for Enstar, and Ardea Partners, Barclays, J.P. Morgan Securities, Simpson Thacher & Bartlett, Debevoise & Plimpton, and Cleary Gottlieb Steen & Hamilton LLP for Sixth Street. The transaction highlights the trend of de-publicized companies guided by forward-looking strategies, acknowledging associated risks.
Sectors
- Insurance Industry
- Private Equity
- Financial Advisory
- Legal Advisory
Geography
- Bermuda – Enstar Group Limited is headquartered in Bermuda, which serves as a hub for their global insurance operations.
- United States – Sixth Street, as a global investment firm, is based in the United States and conducts considerable operations there.
- United Kingdom – Enstar has a significant operational presence in the UK, contributing to its global business activities.
Industry
- Insurance Industry – Enstar Group Limited operates within the global insurance sector, focusing on capital release solutions and legacy acquisitions.
- Private Equity – Sixth Street is a global investment firm involved in purchasing controlling stakes in companies, like Enstar, exemplifying actions typical of the private equity sector.
- Financial Advisory – This sector is involved due to the roles of financial advisors like Goldman Sachs and Ardea Partners in the transaction.
- Legal Advisory – Legal advisors such as Paul, Weiss, Rifkind, Wharton & Garrison LLP played a key role in the deal-making process.
Financials
- $5.1 billion – Total equity value of Enstar's acquisition by Sixth Street.
- $338.00 per share – Cash per ordinary share paid by investment vehicles managed by Sixth Street.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Enstar Group Limited | Target Company | Company | A global insurance group known for capital release solutions and legacy acquisitions. |
| Sixth Street | Bidding Company | Company | A global investment firm that acquired Enstar. |
| Liberty Strategic Capital | Investor | Company | An institutional investor that participated in the transaction. |
| J.C. Flowers & Co. LLC | Investor | Company | An institutional investor involved in the transaction. |
| Goldman Sachs & Co. LLC | Financial Advisor to Enstar | Company | Acted as the financial advisor to Enstar during the acquisition process. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal Advisor to Enstar | Company | Provided legal advisory services to Enstar for this transaction. |
| Ardea Partners LP | Financial Advisor to Sixth Street | Company | One of the financial advisors to Sixth Street for the acquisition. |
| Barclays PLC | Financial Advisor to Sixth Street | Company | Acted as another financial advisor to Sixth Street. |
| J.P. Morgan Securities LLC | Financial Advisor to Sixth Street | Company | One of the financial advisors involved on behalf of Sixth Street. |
| Simpson Thacher & Bartlett LLP | Legal Advisor to Sixth Street | Company | Provided legal advisory services to Sixth Street. |
| Debevoise & Plimpton LLP | Legal Advisor to Sixth Street | Company | Another firm offering legal advice to Sixth Street. |
| Cleary Gottlieb Steen & Hamilton LLP | Legal Advisor to Sixth Street | Company | Also served as legal advisor to Sixth Street. |