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.

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Originally Posted at The Wall Street Journal on November 18, 2019 by Juliet Chung and Leslie Scism.