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The reinsurance group of Brookfield Asset Management is to acquire Argo Group International, a provider of casualty insurance for the manufacturing and services sectors in the United States, in a take-private deal worth $1.1 billion, according to a report by Reuters.
Brookfield Reinsurance said on Wednesday that Argo shareholders will receive a $30 per share cash payment, representing a premium of about 7% to the stock’s last close, with the merger due to complete in the second half of 2023.
In May last year, Brookfield Reinsurance completed another insurance company take-private deal, acquiring American National Group Inc for $5.1 billion.
New private equity investment firm Bluestone Equity Partners has closed its inaugural fund, Bluestone Capital I, a $300 million growth equity investment vehicle focussed on the global sports, media & entertainment industry.
AE Industrial Partners is to sell Enercon Services, a multi-disciplinary engineering and environmental services firm, to funds managed by Oaktree Capital Management.
Sullivan Street Partners, a London based buyout firm focused on deals in the UK lower mid-market, has appointed Zeina Bain as managing partner, alongside co-founders Layton Tamberlin and Richard Sanders.
Bain has over 20 years experience in the private equity industry and joins Sullivan Street from Intermediate Capital Group where she was managing director for three years leading structured partnership investments across the UK, Benelux, and the Nordics.
Prior to this, Bain was a managing director in Carlyle Group’s European buyout team, where she spent 18 years, executing a large number of deals across a wide range of sectors including
A state of confusion around ESG reporting requirements currently hangs over most private equity mid-market managers, posing a major challenge as these assets grow in size and number.
Goldman Sachs Asset Management has held the final close of West Street Global Growth Partners, a new fund which will invest in early-stage companies that are typically small in size, at $5.2 billion, making it one of the largest ever first-time growth equity funds.
Greenbriar Equity Group has held the final closing of Greenbriar Equity Fund VI (Fund VI) with total capital commitments of $3.475 billion, including $225 million in commitments from the general partners and the firm’s network of operating executives.
Fund VI, the firm’s largest investment vehicle to date, received strong support from both existing investors as well as an expanded base of new investors globally, and significantly exceeded its $2.75 billion target.
Fund VI will continue Greenbriar’s same 20-plus year strategy of investing in supply chain, business services and advanced manufacturing companies.
Evercore acted as Greenbriar’s exclusive global placement agent and
Private investment firm Carlyle Group Inc is in negotiations to acquire private healthcare technology firm Cotiviti Inc for a purchase price close to $15 billion, including debt, from Veritas Capital, according to a report by Bloomberg.
The report cites an unnamed source as revealing that Carlyle is hoping to partner with another investment firm to complete the deal, and is also working with private credit firms to arrange around $5.5 billion of financing for the potential deal. If successful, that would re one of the largest ever direct loans, or non-bank buyout loans arranged in the private credit market, according
Healthcare focussed private investment firm CBC Group is considering selling its controlling stake in Anrei Medical (hz) Co, a China-based manufacturer of medical devices for minimally invasive surgery, in a deal that could be worth up to $737 million, according to a report by Bloomberg.
MetLife Investment Management, the institutional asset management business of MetLife, is to acquire Raven Capital Management, a privately-owned alternative investment firm with $2.1 billion in assets under management invested across the credit spectrum.
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