Bermudian-based Enstar Group Ltd has officially closed its acquisition by affiliates of Sixth Street, the global investment firm. Shareholders received $338 in cash per ordinary share, valuing the company at approximately $5.1 billion.

Under the deal, equity participation also came from Liberty Strategic Capital and JC Flowers & Co, among other institutional investors. The transition allows Enstar to operate as a privately held company, retaining its brand under the continued leadership of Dominic Silvester, the chief executive.

“This is a major moment for Enstar as we begin our next chapter as a private company,” said Mr Silvester. He added that the partnership with Sixth Street aims to reinforce Enstar’s position as a global insurance and reinsurance group known for innovative legacy and capital release solutions.

Michael Muscolino, cofounder and partner at Sixth Street, said: “Enstar is a compelling company with a robust business model and an exceptional management team. We look forward to partnering with Dominic and the rest of the Enstar team to help them execute on their existing strategy.”

Enstar notified the Nasdaq that it will delist all depositary shares, including its Series D and E preference shares, filing a Form 25 by mid-July. No plans exist to list on any other exchange. The firm will cease public trading entirely by July 14.

The deal was initially announced in July 2024 and approved at a shareholder meeting in November. Enstar said it will operate independently under Sixth Street’s ownership, emphasising continuity and strategic execution under its existing leadership and structure.