August 11, 2017 (London) – International law firm Proskauer represented client GIC, Singapore’s sovereign wealth fund, on its acquisition (alongside Blackstone and Massachusetts Mutual Life Insurance Company) of Goldman Sachs' entire stake in Rothesay Life. GIC is already a shareholder in Rothesay Life and after this transaction will hold an equal largest stake with Blackstone.
Rothesay Life was established in 2007 and has become one of the leading providers of regulated insurance solutions in the UK market for pensions de-risking, making payments to policyholders of £1.3 billion a year. This growth was achieved through the steady accumulation of pension scheme clients, significant strategic acquisitions and the reinsurance of annuity portfolios.
M&A partner Matt Rees led the Proskauer team with support from partner Eleanor Shanks and associate Cathy Bellhouse.