"Enstar has a proven track record of delivering innovative legacy property and casualty solutions and capitalising on attractive opportunities in the reinsurance market, while maintaining a conservative balance sheet and strong risk management culture," Sixth Street co-founder and partner Michael Muscolino said. "As an existing investor in Enstar, we have a deep respect for the business Enstar's management team has built and look forward to continuing supporting the company's current strategy." Nasdaq-listed insurer Enstar's directors unanimously approved the deal and have recommended shareholders vote in favour. The deal is expected to close next year, subject to shareholder backing, regulatory clearance and other closing conditions. "Enstar will maintain its current operations and business strategy," the insurer said.