
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

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
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