AIG, The Carlyle Group Complete Investment in Fortitude Re
AIG and The Carlyle Group have announced that Carlyle completed its acquisition of a 19.9% stake in Fortitude Group Holdings, LLC, whose group companies operate as Fortitude Re (formerly DSA Re). The transaction was first announced on August 1, 2018, and closed following receipt of regulatory approvals and satisfaction of other customary closing conditions.
Fortitude Re‘s new name represents the company’s focus on and expertise in managing long-dated, complex risks.
“We are hard at work building Fortitude Re for long-term success. The closing of Carlyle’s investment and brand launch are two key milestones on that journey.” – Chief Executive Officer of Fortitude Re, James Bracken.
“We look forward to working with our partners at AIG and Fortitude Re to grow the business and extend Carlyle’s asset management platform.” – Managing Director and Co-Head of Carlyle Global Financial Services Partners, Brian Schreiber.