Davis Polk is advising affiliated funds of GS Capital Partners (GSCP), managed by Goldman Sachs & Co., that will invest up to $291.6 million for up to a 19.9% fully diluted economic interest in Enstar Group Limited at a price of $86.00 per share. GSCP will also receive warrants to acquire an additional 2% fully diluted interest in Enstar at an exercise price of $115.00 per share.

Enstar is a Bermudan company that acquires and manages insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off, and provides management, consultancy and other services to the insurance and reinsurance industry. GSCP is a global leader in private corporate equity investing and part of the merchant banking division of Goldman Sachs.

The Davis Polk corporate team includes partners Phillip R. Mills and John D. Amorosi and associates Brian J. Snyder, Patrick Delaney and Daniel R. Marx. The tax team includes partner Kathleen L. Ferrell and associates Joshua Ruland and Kerry S. Price. All members of the Davis Polk team are based in the New York office.