Why a Boston insurer is trying to sell off its RE stakes

It's more than an one-off situation

TRD New York TRD WEEKEND EDITION /
Feb.February 03, 2018 03:00 PM

(Credit from back: Pixabay, Max Pixel)

Boston-based Liberty Mutual Insurance is trying to cash out of real estate and private equity as the stock market’s past year of rallying presented the right prices.

The insurer is taking bids on about $1 billion of these assets, according to the Wall Street Journal — and Liberty isn’t the only player making this move. According to industry data reviewed by the Journal, private interest transactions “peaked” last year.

In the case of Liberty, the insurer is specifically taking bids on stakes in Blackstone Group’s Tactical Opportunities group. (Blackstone, for its part, is celebrating a strong year in 2017.)

As of last September, Liberty managed a portfolio worth over $80 billion. [WSJ]Erin Hudson


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