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Carlyle Makes a Big Move Into Insurance

  • Acquires almost 20% in DSA Reinsurance from AIG International
  • Deal gives Carlyle $6 billion from DSA to invest across assets
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Carlyle Group LP is buying a stake in an American International Group Inc.-owned firm as alternative investment managers seek to load up on insurance assets and get more business from an industry desperate for higher returns.

The Washington-based firm agreed to purchase 19.9 percent of DSA Reinsurance from AIG and make it into a standalone insurer, Carlyle said in a statement Wednesday. The deal comes with an agreement that gives Carlyle $6 billion from DSA to invest across its private equity, credit and real asset groups.