Private Equity
Reverence Capital Partners said May 9 that it agreed to buy Advisor Group Inc. Financial terms weren’t announced. Reverence is buying 75 percent of Advisor Group. Lightyear Capital and PSP Investments, the sellers, will have 25 percent. Advisor Group Inc is a wealth management platform that supports over 7,000 financial advisors with $268 billion of client assets. Centerbridge Partners LP was is in talks to buy Advisor Group for more than $2 billion, Bloomberg reported in April.
4 min read · 09 May 2019
The Hilb Group LLC, a portfolio company of Abry Partners, has acquired Moorefield, West Virginia-based Summit Insurance Services, a provider of employee benefits solutions. No financial terms were disclosed.
2 min read · 07 May 2019
2 min read · 06 May 2019
2 min read · 02 May 2019
SunBridge Partners has exited Kyriba Japan, the Japan joint venture between Kyriba, a treasury management technology firm and SunBridge Partners. The exit comes as part of Bridgepoint's recent investment in Kyriba. Based in Beachwood, Ohio, SunBridge is a venture firm that invests in enterprise software in the U.S. and Japan.
3 min read · 02 May 2019
Insightsoftware, a TA Associates portfolio company, said May 2 that it acquired Jet Global Data Technologies. Financial terms weren’t announced. Jet Global, of Portland provides reporting, analytics, and budgeting solutions for Microsoft Dynamics.
3 min read · 02 May 2019
Canadian private equity firm Onex Corp and a group of co-investors have committed to invest $1.8 billion in Convex Group Ltd, a newly-launched, Bermuda-based property and casualty insurance company. About $1.6 billion of the commitment has been funded, Onex said. Led by insurance industry executives Stephen Catlin and Paul Brand, Convex will focus on underwriting complex specialty risks across a range of business lines. The funded investment includes $750 million from Onex Partners V, which raised $7.15 billion in 2017. Another $780 million came from co‑investors, including Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund.
3 min read · 01 May 2019
New Residential Investment Corp has agreed to invest in Covius Holdings Inc, a provider of technology-enabled services for the financial services industry. No financial terms were disclosed. Covius is backed by Aquiline Capital Partners.
3 min read · 01 May 2019
2 min read · 30 April 2019
HighTower, which is backed by Thomas H. Lee Partners, has made an investment in California-based LourdMurray, a wealth management firm. No financial terms were disclosed. Republic Capital Group advised LourdMurray on the transaction. The deal is expected to close at the end of the second quarter of this year.
4 min read · 30 April 2019
