Investors Reap Windfall From Former Hartford Financial Unit
November 20, 2019 by Juliet Chung and Leslie Scism
Several wealthy families and investment firms have received an early $700 million payout from a once-troubled unit of Hartford Financial Services Group Inc. HIG 0.19% that has enjoyed a remarkable turnaround since the financial crisis.
The investors, which include the family offices of former hedge-fund manager Timothy Barakett and of Hyatt Hotels Corp. H 1.06% ’s Tom Pritzker, and Hartford itself, received the return of money from the $1.76 billion they contributed to acquire Hartford’s Talcott Resolution unit in 2018, people familiar with the matter said. They are also expected to receive dividends over time.