Talcott and Goldman Sachs launch $1B reinsurance sidecar

Talcott Financial Group has established West Grove Re, Ltd., a Bermuda-domiciled reinsurance sidecar formed in partnership with Goldman Sachs (NYSE: GS), according to a press release from the Hartford, Conn.-based insurer.

West Grove Re has closed an approximately $1 billion capital raise, comprising equity commitments from Talcott, Goldman Sachs Asset & Wealth Management (AWM) and its clients, as well as a credit facility.

The sidecar will participate in a quota share of certain Talcott-sourced U.S. annuities. Goldman Sachs AWM will act as investment manager for private asset strategies within the vehicle, while other third-party investment managers are expected to manage the remainder of West Grove Re's assets.

Talcott will provide the sidecar with support services across actuarial, finance, compliance, and risk functions. The vehicle was established under Talcott's open architecture asset management model, which is enabled through its partnership with Sixth Street, which acquired Talcott in 2021.

"Establishing West Grove Re is another important step in Talcott's growth strategy, broadening our access to liabilities with varied costs of capital," said Imran Siddiqui, Chief Executive Officer of Talcott.

Vivek Bantwal, Global Co-Head of Private Credit at Goldman Sachs Alternatives, said the firm's private credit business will bring "a rigorous credit selection process, access to a deep sourcing and origination funnel through our investment bank, and our expertise in markets and risk management to this partnership."

Talcott reported $134 billion in assets under management as of March 31, 2026. Goldman Sachs Asset Management reported approximately $508 billion of insurance assets under supervision as of the same date.

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