Golden Gate Capital Backs Gass in $750 Million Reinsurance Push

Golden Gate Capital, a $12 billion private-equity firm, is backing a new reinsurance venture that will focus on the life, annuity and long-term care sectors.

Phillip J. Gass and Kostas Cheliotis will run the business, called Nassau Reinsurance Group, according to a statement Wednesday from the company. It has initial capital commitments of more than $750 million from funds managed by San Francisco-based Golden Gate.