Ascot Group Limited and Antares Capital Announce Casualty Sidecar Partnership

Ascot and Antares announced a strategic partnership to launch Wayfare Reinsurance Limited and Canro Re Limited for casualty reinsurance capacity in the U.S. and Bermuda. The release described planned equity capitalization from both partners at an approximate transaction size of $500 million. Antares was to serve as exclusive private credit asset manager for a portion of the sidecar's assets through its senior secured direct-lending strategy. Aon Securities was structuring and placement agent; Debevoise & Plimpton advised Antares. Individual equity contributions and ownership percentages were not disclosed.