Articles - Goldman Sachs sells majority stake in Rothesay Life

 Goldman Sachs Group have announced the sale of a majority stake in Rothesay Life,  its UK pensions insurance business. Funds managed by Blackstone and GIC each acquire 28.5% of the shares, with Massachusetts Mutual Life Insurance Company acquiring a 7% holding. Goldman Sachs retains a 36% stake. The transaction is subject to regulatory approval.

 Michael Sherwood, Vice Chairman of The Goldman Sachs Group, Inc., said: “Rothesay Life's success has now brought it to a size at which it is more capital-efficient for Goldman Sachs to share its ownership with other investors. As a market leader in a dynamic industry, Rothesay Life can continue its growth as a standalone business with the benefit of diversified ownership. We are pleased to remain the largest shareholder alongside three world class investors.”