Tiptree has closed a $200 million strategic investment in its insurance subsidiary, The Fortegra Group (Fortegra) from growth investor Warburg Pincus.
Tiptree has closed a $200 million strategic investment in its insurance subsidiary, The Fortegra Group (Fortegra) from growth investor Warburg Pincus.
The investment gives Warburg Pincus an approximately 24% ownership in Fortegra on an as-converted basis. Up to $60 million of the proceeds will be used to support Fortegra’s growth opportunities with the remainder used to repay Tiptree’s existing indebtedness and for general corporate purposes.
