Sixth Street to Buy Talcott, Adding $90 Billion to Manage (1)

Sixth Street Partners agreed to buy Talcott Resolution Life Insurance, the former annuities unit of Hartford Financial Services Group Inc., from a consortium of investors.

Sixth Street, which separated from private equity giant TPG last year, is acquiring Windsor, Connecticut-based Talcott from a group that includes Cornell Capital and Atlas Merchant Capital, according to a statement Wednesday that didn’t disclose terms. The Wall Street Journal reported earlier that the deal price is $2 billion.

“We are looking forward to our partnership with Sixth Street and the next chapter in Talcott’s evolution,” Talcott Chief Executive Officer Pete Sannizzaro, ...