American International Group, Inc. (NYSE: AIG) and The Carlyle Group (NASDAQ: CG) announced a strategic partnership to build DSA Re into a standalone provider of reinsurance, claims handling, and run-off management solutions for long-dated, complex risks to the global insurance industry. As part of the transaction, Carlyle will acquire a 19.9% stake in DSA Re and enter into a strategic asset management relationship whereby DSA Re and AIG will, in aggregate, allocate $6 billion of assets into various Carlyle managed strategies across corporate private equity, real assets and private credit. The transaction is expected to close in approximately 60 days, subject to required regulatory approvals and other customary closing conditions. Citi was the financial advisor and Debevoise & Plimpton LLP was the legal advisor to The Carlyle Group.