Sixth Street-led Group Acquires Enstar Group for $5.1 Billion

Sixth Street Acquires Majority Stake in Monument Re

June 29, 2026

Financial Services

Sixth Street announced that its investment vehicles have entered into a definitive agreement to acquire a majority stake in Monument Re. The transaction is expected to provide Monument Re with fresh capital and resources to accelerate strategic initiatives, with Monument Re continuing to operate as a standalone company after closing.

Blue Cross Blue Shield of Michigan to Sell AF Group to Enstar Group (Backed by Sixth Street)

February 13, 2026

Insurance

Blue Cross Blue Shield of Michigan entered into a definitive agreement to sell its wholly owned subsidiary AF Group to Enstar Group, a global insurance and reinsurance group backed by investment vehicles managed by Sixth Street. AF Group will become a wholly owned subsidiary of Enstar and is expected to continue operating largely as a standalone company from its Lansing headquarters, subject to regulatory approvals. The transaction is expected to close in the fourth quarter of 2026; financial terms were not disclosed.

Starwood-led Consortium Privatises ESR Group

December 4, 2024

Real Estate

A consortium led by Starwood Capital Group, Sixth Street and SSW Partners, with Warburg Pincus, Qatar Investment Authority and ESR's founders, completed a take-private of ESR Group Limited. The privatisation (valued at ~HK$55.2 billion / US$7.11 billion in the proposal) is intended to accelerate a strategic transformation—simplifying the portfolio, refocusing on logistics and data centres, and executing long-term initiatives in a private setting.

Sixth Street Acquires 49% Stake in Enipower from Eni

March 14, 2022

Energy

Sixth Street has agreed to acquire a 49% stake in Enipower from Eni, forming a long-term partnership while Eni retains operational control and financial consolidation. The transaction provides Eni with capital to support its energy transition strategy and gives Sixth Street an institutional infrastructure stake in Italy's electricity production.

Sunstar Insurance Group Recapitalized by BBH Capital Partners

June 30, 2020

Insurance

Sunstar Insurance Group completed a majority recapitalization with BBH Capital Partners, with Sunstar management and key employees remaining significant shareholders. The investment provides capital to accelerate Sunstar's organic growth and M&A strategy; LNC Partners will remain a lender and Piper Sandler served as Sunstar's exclusive financial advisor.

SkyKnight, Dragoneer and Aquiline Recapitalize StarStone U.S.

June 10, 2020

Insurance

Enstar has agreed to a recapitalization of StarStone U.S. led by SkyKnight Capital, Dragoneer Investment Group and Aquiline Capital Partners, with the investors committing $610 million of new equity and management contributing over $20 million, increasing StarStone U.S.'s equity to more than $850 million. Enstar will roll over part of its ownership and receive cash and shares; a new leadership team headed by Jeff Consolino (CEO) and Ed Noonan (Executive Chairman) and a refreshed Board will be appointed to support a push into specialty property & casualty and E&S lines.