Sixth Street in Acquisition of Majority Stake in Monument Re

Cleary Gottlieb is representing long-standing client Sixth Street in connection with the entry by investment vehicles managed or advised by Sixth Street into a definitive agreement to acquire a majority stake in Monument Re (Monument), a premier pan-European insurance consolidator, and support the company’s long-term strategic growth plan.

Hannover Re will continue as a key shareholder and remains committed to Monument and Sixth Street’s strategy for the business moving forward.

Monument is a strategic partner to the European insurance market, offering execution focused capabilities to acquire and manage in force life insurance portfolios and deliver tailored risk transfer and reinsurance solutions across multiple jurisdictions. This transaction will provide Monument with fresh capital and resources to accelerate its strategic initiatives and further strengthen its market position. Following closing, Monument will continue to operate as a standalone company and will continue to service its policyholders.

Sixth Street Insurance is a premier strategic partner to leading insurers, advising on more than $125 billion of insurance company assets and making direct investments through a highly flexible global platform. Leveraging an extensive presence across North America and Europe, Sixth Street Insurance combines long-term capital with specialist asset liability management expertise to deliver bespoke balance sheet solutions for life and P&C insurers.

For more information, please see the press release.

The Cleary private equity team was led by partners Chris Gollop and Mike James and included associates Luca Engström, Axel Nordlöf, and Sydney O’Shea. Associates Ruben Foriers and Michiel De Wolf advised on the Belgian corporate matters. Partner Alex van der Gaag and associate Laura Van Der Griendt advised on debt finance matters. Partner Richard Sultman and associate Thomas Peet advised on tax matters. Partner Vladimir Novak and associate Elinor du Parc advised on FDI and regulatory matters. Counsel Prudence Buckland and associates Jan-Frederik Keustermans and Noemie Broussoux-Coutard advised on IP and data protection matters. Counsel Melissa Reid, senior attorney Loïc Peltzer, and associates Ashley Moss and Rebecca Levin advised on employment matters. Partner James Norris-Jones and associate Joe Gaffney advised on disputes matters. Senior attorney James Corsiglia advised on compliance-related matters. Partners Chase Kaniecki and Yulia Solomakhina and associates Catherine Johnson and Ryan Brown advised on sanctions and trade controls matters.