Talcott Resolution manages over $90 billion in liabilities and surplus for approximately 900,000 customers across the span of its businesses, including nearly 600,000 annuity contract holders. Following the acquisition. Over the last three years, it has been a pleasure to work together with Pete and the entire Talcott Resolution team, as well as The Hartford and the consortium’s exceptional investment partners, to strategically grow and reposition Talcott Resolution as a standalone company built for long-term, sustainable success. Talcott Resolution team has a proven ability to initiate, execute, and deliver results and we look forward to continuing what the consortium started through their strategic investment in the company’s growth.
Great support and guidance from their institutional investors, Pete and team have created a business with the reputation, capabilities, and expertise to take advantage of opportunities afforded by the current market environment. Sixth Street manages over $50 billion in assets and pursues investments in the insurance sector through its Sixth Street TAO platform, which consists of $25 billion in flexible, long-dated capital. The transaction is expected to close in the second quarter of 2021, subject to regulatory approvals and other customary closing conditions. J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. acted as financial advisors and Willkie Farr & Gallagher LLP acted as legal advisor to Sixth Street. Sidley Austin LLP acted as legal advisor to the consortium.