Deals
Blackstone Bets on Annuities With $1.84 Billion Deal for FGL
- Investment funds join with Blackstone veteran Chu to buy FGL
- FGL to sell itself for $31.10 a share, more than Anbang price
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Blackstone Group LP, the world’s biggest private equity firm, is pushing into annuities to expand its investment-management operation.
Funds affiliated with Blackstone, led by Stephen Schwarzman, are part of an investor group that agreed to pay $1.84 billion to buy Des Moines, Iowa-based Fidelity & Guaranty Life, the companies said in a statement Wednesday.