Sixth Street leads race to buy Allianz’s US annuity book

Credit investment firm spun out of TPG in 2020 snapping up insurance assets via its Tao fund

Allianz and Sixth Street

A consortium led by private equity and credit investment firm Sixth Street is in pole position to acquire a portfolio of US fixed annuities from Allianz, after beating rival suitors with a bid valued at around $4 billion, according to two sources familiar with the matter.    

The fixed annuities up for sale – which guarantee a regular stream of income to retirees – are backed by at least $37 billion in assets.

Boutique investment bank Ardea Partners is advising Allianz on the sale process

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