| Blackstone Group LP and GIC Pte, Singapore’s sovereign wealth fund, agreed to buy a majority stake in Goldman Sachs Group Inc’s European insurance business.
Blackstone, the world’s biggest private-equity firm, and GIC will each buy 28.5 percent of the shares in Rothesay Life Ltd., a London-based insurer run by Goldman Sachs partner Addy Loudiadis, Goldman Sachs said in a statement today. Massachusetts Mutual Life Insurance Co. will also buy 7 percent, and Goldman will retain 36 percent. The price wasn’t disclosed...............................................Full Article: Source
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