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Tiptree has secured a USD200 million strategic investment in its insurance subsidiary, The Fortegra Group (Fortegra) from Warburg Pincus.
The investment will give Warburg Pincus an approximate 24 per cent ownership in Fortegra on a fully diluted basis and is expected to close in the first quarter 2022. This transaction highlights the underlying intrinsic value of Fortegra to Tiptree shareholders, representing a significant milestone for the Company.
Fortegra is a rapidly growing and consistently profitable specialty insurer, underwriting over USD2.0 billion of gross written premiums and premium equivalents annually. The business underwrites and administers a variety of specialty insurance products
Two Sigma Impact, the impact investing business of Two Sigma, has acquired Eclipse Advantage (Eclipse), a provider of outsourced supply chain workforce solutions specialising in servicing warehouses and distribution centres across the US and Canada.
Financial terms of the transaction have not been disclosed.
Founded in 2003, Eclipse employs approximately 5,000 workers, or “industrial athletes”, to fill the gap in the large and growing outsourced distribution labor market. The Company has enjoyed year-over-year growth for nearly two decades and partners with Fortune 1000 companies to improve supply chain productivity and efficiency. Eclipse provides a comprehensive suite of labor services
Crestbridge has appointed Conor O’Brien as Head of Accounting and Transfer Agency as it continues to expand its presence in Ireland.
In his new role, Conor is responsible for establishing, leading and promoting the accounting, valuations and transfer agency functions of the fund administration business of Crestbridge Ireland. Conor brings to Crestbridge over 25 years of experience working in the Funds industry, with particular expertise in developing services to Private Equity, Real Estate funds and other alternative structures.
Prior to joining Crestbridge Conor worked extensively in fund accounting, system and strategic operating model enhancement, integration and testing, financial reporting, fund
North west-based multi-family investment office Arete, has announced it has led a GBP1.6 million investment into Travel Seen, an early stage business co-founded by award-winning entrepreneur and travel professional, Jen Atkinson.
The new venture, Travel Seen, is a ‘mass luxury’ travel agency that matches holidaymakers to destinations through social media influencer content, whether it’s a family holiday in Cyprus, a girls’ getaway to Dubai or trip for two to Mauritius, amongst other destinations across the globe. Travel Seen will also offer customers exclusive experience packages, inspired by their favourite moments in TV, film and literature.
The business enters the
Partners Group, global private markets firm, is expanding the shareholder base of Foncia, a provider of residential property management services in Europe. Incoming shareholder TA Associates has agreed to acquire a 25 per cent stake in the business, while Partners Group will continue to hold a majority stake in the Company on behalf of its clients.
Founded in 1972 and headquartered in Paris, France, Foncia provides a range of services primarily to residential property owners and tenants, including joint property management, lease management, letting, and brokerage services. The Company also offers a range of ancillary, digital, and B2B services, such
DP World, a specialist in global supply chain solutions, and CDC Group, the UK’s development finance institution and impact investor, are entering into a long-term partnership to accelerate Africa’s long-term trade potential.
Africa has a sixth of the world’s population, but accounts for just 4 per cent of global containerised shipping volumes. Ports are vital to the long-term prosperity and wellbeing of people. But many ports and logistics facilities in Africa remain constrained, lacking in capacity to meet the needs of local economies.
This partnership, which has been worked towards for four years, will help change that. It will help
2150, the Urban Sustainability Technology Fund, has held the final close of its oversubscribed flagship fund at EUR268 million (USD312m).
Funding for the final close comes from new investors including Credit Suisse and a client advised by AIMS Imprint of Goldman Sachs Asset Management, the Norwegian sovereign climate investment company, Nysnø as well as the BMW Foundation and Woven Capital, the investment arm of Toyota’s Woven Planet Group.
This final close comes six months after the first close of the fund, with the entire fundraise completed in just over twelve months. Since the first close in February 2021, the
Bluegem Capital Partners, a pan-European equity fund specialising in investments in the mid-market consumer staples brands segment, has completed an ESG-linked refinancing package for Dr Vranjes, the Florentine company founded in 1983 which has become a market leader of home fragrances.
Oldenburgische Landesbank (OLB), the German bank with assets in excess of EUR20 billion, of which the American investment fund Apollo Global Management is a shareholder, has signed a EUR24.5 million refinancing package with Dr Vranjes which has a margin ratchet linked to the achievement of ESG objectives.
The first one is an environmental objective that focuses on the use
UMB Fund Services (UMBFS), a subsidiary of UMB Financial Corporation UMBF), has launched an automated optical character recognition (OCR) processing programme.
The technology enables faster, more accurate processing of handwritten subscription and tender documents by replacing manual reviews with OCR software and bot technology, turning what previously amounted to hundreds of hours of manual processing into a 24-hour automated service.
The programme creates a standard process for all client documents, whether received in paper, email, fax or data files, allowing UMBFS to handle high volume, short period spikes for tenders or product closings – a critical solution that has historically
Waterland Private Equity and management consultancy Horn & Company have entered into a 50/50 partnership to create a new growth platform for mid-sized consultancy businesses.
Horn & Company is one of the leading consultancies in the DACH region for the areas of strategy, digitalisation and revenue growth for financial service providers as well as industrial and trading companies. The current partners will remain with Horn & Company in their current roles and will continue to lead the company’s operational consulting business.
Founded in 2009 by Dr Christian Horn and Dr Alexander Bethke-Jaenicke, among others, Horn & Company, based in Dusseldorf,
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