S.A.C. Capital Advisors, L.P. agrees to sell its Bermuda-based reinsurance business, S.A.C. RE, Ltd. to Hamilton Reinsurance Group.
As reported in the press, including the Wall Street Journal and New York Times, S.A.C. Re Holdings, Ltd. has reached an agreement to sell its wholly owned subsidiary S.A.C Re, Ltd. to Hamilton Reinsurance Group, a privately held firm the investors in which include affiliates of New York-based hedge fund Two Sigma Investments LLC, private-equity firms Capital Z Partners Management LLC and Performance Equity Management, former insurance executive Brian Duperreault, and certain institutional investors. Exploration Bermuda, LLC, an affiliate of S.A.C. Capital Advisors, L.P., is the largest shareholder of S.A.C. Re Holdings, Ltd. and Willkie represented S.A.C. Capital Advisors, L.P. and Exploration Bermuda, LLC in connection with the transaction.
The Willkie deal team was led by corporate partner Robert Stebbins and associates Rajab Abbassi and Andrew Endicott, and included partners James Brown (tax), Eugene Chang (IP) and Jordan Messinger (executive compensation and employee benefits).