On October 21, 2025, AllianceBernstein Holding L.P. (AB) announced a new equity investment in Fortitude Carlyle Asia Reinsurance, Ltd. (FCA Re), a reinsurance sidecar vehicle created by Fortitude Re. The investment positions AB as one of the lead investors and gives the firm a seat on FCA Re’s board of directors.
FCA Re is a Class E licensed Bermuda‑domiciled reinsurer that will initially assume a share of existing liabilities from Fortitude Re and reinsure a share of future transactions in Asia. AB will manage private alternative assets for FCA Re, leveraging its fixed‑income and private‑credit origination capabilities to support the sidecar’s Asian liability portfolio.
This transaction expands AB’s insurance asset‑management platform, which already manages nearly $190 billion in insurance‑related assets as of June 30, 2025. By entering the Asian reinsurance market, AB broadens its geographic reach and adds a new source of fee‑generating assets, reinforcing its long‑term growth strategy in the insurance space.
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