The companies were considering the sale of a minority stake, the Financial Times reported August 16, citing people familiar with the matter.
Goldman Sachs, which said it probably will sell a majority of London-based Rothesay Life is doing so in part because new rules require banks to hold more equity to absorb potential losses on assets, a person briefed on the discussions said earlier this month.
The business, run by Goldman Sachs partner Addy Loudiadis, 50, insures more than $15.6bn of pension liabilities for companies including IAG SA’s British Airways.
Christine Anderson, a spokeswoman for New York-based Blackstone, and Michael DuVally at Goldman Sachs declined to comment on the potential deal.
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