Simpson Thacher represented Blackstone in connection with the establishment of a new perpetual capital vehicle which has acquired 100% of the economic interests of Resolution Life Group Holdings, Ltd. (“Resolution Life”). Blackstone and Resolution Life raised $3 billion of new equity capital commitments–including a $500 million strategic investment from Blackstone–bringing Resolution Life’s overall equity capital base to approximately $8 billion. Blackstone will serve as the general partner for the new vehicle, through which all investors in Resolution Life will participate. Resolution Life is Blackstone’s strategic partner for new closed-book transactions, including reinsurance, in the life and annuity sector globally. Blackstone has become Resolution Life’s investment manager for certain key areas, including directly originated assets across the private credit, real estate and asset-based-finance markets.
Resolution Life is a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies.
The Simpson Thacher team includes Michael Wolitzer, Linda Tieh, Benjamin Smith, Demetrius Baefsky, Shreya Tallanje, Javier Rivera-Alvarado, Daniela Chediak, Sung Won Choi, Eric Xu, Helene Marie Snyder and Michael Kang (Private Funds); Elizabeth Cooper (M&A); Jonathan Goldstein, Jodi Schneider and Lina Pan (Tax); and Ben Wells, Jamie Hahn and Nicholas Ridley (Retail Funds).