Enstar goes private as Sixth Street completes $5.1bn acquisition

US private equity firm Sixth Street has finalised its $5.1bn acquisition of Bermuda-based legacy specialist Enstar Group, which will now transition to a privately held company and delist from public markets.

“This is a major moment for Enstar as we begin our next chapter as a private company,” said Enstar’s chief executive Dominic Silvester (pictured) of the sale, which was approved by shareholders in November 2024.

Backed by Liberty Strategic Capital, JC Flowers and other institutional investors, the $338-per-share deal gives Enstar an 8.5% premium over the company’s share price.

Enstar’s shares will be delisted from the Nasdaq Stock Market as it shifts to a privately held, standalone company, continuing to operate under the Enstar name.

Silvester said: “Together with Sixth Street, we will build on our position as a leading global re/insurance group, delivering innovative solutions to our partners and maintaining our competitive advantage. I’d like to thank our employees, past and present, whose contributions have been instrumental to achieving this milestone.”

Michael Muscolino, co-founder and partner at Sixth Street, added: “Enstar is a compelling company with a robust business model and an exceptional management team. We are thrilled to reach this milestone and look forward to partnering with Dominic and the rest of the Enstar team to help them execute on their existing strategy.”

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.