Feb 2026
Conyers advised Howard Hughes Holdings Inc. (NYSE: HHH) in connection with its approximately US$2.1 billion acquisition of Vantage Group Holdings, Ltd. (“Vantage”), a privately held Bermuda-domiciled specialty insurance and reinsurance company being sold by, among others, Carlyle and Hellman & Friedman.
The acquisition represents one of the most notable transactions in the Bermuda insurance and reinsurance market over the past year, both in terms of deal value and structural complexity. Pershing Square Holdings, Ltd. (LN: PSH), founded and managed by prominent investor Bill Ackman through Pershing Square Capital Management, L.P., is HHH’s largest shareholder, with Pershing Square’s total firm assets under management totalling approximately US$28 billion. Vantage itself is a well-established Bermuda specialty platform with deep roots in the island’s insurance and reinsurance market, having been backed by two of the world’s leading private equity firms, Carlyle and Hellman & Friedman. The combination of Ackman’s high-profile involvement, the calibre of the selling shareholders, and the scale of the acquisition firmly positioned this transaction among the most closely watched deals in the Bermuda market.
Conyers role encompassed advising on all aspects of Bermuda law arising from the transaction, including conducting legal due diligence on Vantage, navigating the change of control regulatory approval process with the Bermuda Monetary Authority, and providing general Bermuda law counsel throughout the deal.
The transaction signed in December 2025 and has now successfully closed following receipt of all required regulatory approvals.
HHH Inc is a US public company listed on the New York Stock Exchange.
The Conyers team was led by Director and Head of the Bermuda Insurance Practice Sophia Greaves, along with Senior Associate Jessica Almeida and Associate Tashae Trott advising on the matter, working alongside Latham & Watkins LLP.