Caisse, Ontario Teachers' to exit Catalina Holdings with Apollo buy

U.S. private equity firm Apollo Global Management has agreed to acquire a majority stake in Catalina Holdings (Bermuda) Ltd, a Hamilton, Bermuda-based acquirer and manager of non-life insurance-reinsurance companies in run-off. No financial terms were disclosed for the deal, which is expected to close in Q1 2018. As a result, Caisse de dépôt et placement du Québec and Ontario Teachers’ Pension Plan will exit their stakes in the company. The two Canadian pension funds have held interests in Catalina for about a decade. Apollo initially invested in December 2013.

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