Carlyle Group and T&D Holdings Purchase AIG’s Stake in Fortitude Group Holdings

Carlyle Group and T&D Holdings finalized their purchase of AIG’s 76.6% stake in Fortitude Group Holdings for $2.2B.

“Today’s announcement is another important step in our strategy to efficiently manage our legacy liabilities by further preparing Fortitude Re for independence, while strengthening our balance sheet and maintaining our primary focus on upholding policyholder and regulatory commitments.”

Brian Duperreault, CEO of AIG

Carlyle now holds 71.5% of Fortitude (including their previous purchase of 19.9%), T&D holds 25%, and AIG holds 3.5%.