Goldman sells Rothesay stake

 
City A.M. Reporter
GOLDMAN Sachs has sold most of its stake in Rothesay Life, a UK insurer founded and run by one of its former partners, freeing up capital to meet stricter regulatory requirements.

Singapore wealth fund GIC and private equity group Blackstone are buying 28.5 per cent each while Massachusetts Mutual Life Insurance Company will take seven per cent.

Goldman Sachs will remain the largest shareholder with a 36 per cent stake.