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Funds News

Blackstone sells 36% stake in UK insurer Rothesay Life

LONDON, Sept 30 (Reuters) - Private equity firm Blackstone has sold its 36% shareholding in UK insurer Rothesay Life to existing shareholders Singapore fund GIC and U.S. insurer MassMutual, Rothesay Life said on Wednesday.

The stake sale values Rothesay Life at 5.75 billion pounds ($7.37 billion), the specialist annuity provider said in a statement. ($1 = 0.7804 pounds) (Reporting by Carolyn Cohn, editing by Sinead Cruise)

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