Syncora Holdings, a Bermuda-domiciled holding company, sold Syncora Guarantee, an insurance company, to an entity organized by GoldenTree Asset Management for $392m. Frederick Hnat, CEO and President of Syncora, remarked that “this agreement is the culmination of years of hard work and focus on our core strategies of risk reduction, asset monetization and enhancing value for our shareholders. We are very pleased with the terms of the agreement with Star Insurance, an entity organized by GoldenTree, one of the largest independent asset managers focused on credit, and believe that it helps accomplish our long stated goal of optimizing shareholder value and returning capital to shareholders.”