Private Equity
French insurance brokers Active Assurances and AFI Assurances have merged. No financial terms were disclosed. Active Assurances is backed by Activa Capital, Bpifrance, Idinvest Partners and Bpifrance Financement.
4 min read · 22 February 2019
2 min read · 21 February 2019
Aquiline Capital Partners LLC has agreed to acquire Walnut Creek, California-based Relation Insurance Services, an independent insurance broker. The sellers are Parthenon Capital and Century Equity Partners. No financial terms were disclosed. Sandler O’Neill + Partners and Waller Helms Advisors served as financial advisers to Relation on the deal.
4 min read · 21 February 2019
Apax Partners said Feb. 21 that it sold its stake in AssuredPartners to an investor group led by GTCR. Financial terms weren’t announced. Apax is coinvesting in the deal and will have a minority stake. AssuredPartners, of Lake Mary, Florida, is an insurance broker that distributes property and casualty, risk management, employee benefits and personal insurance.
5 min read · 21 February 2019
Blackstone has completed an investment in Lionpoint Group. Financial terms weren’t announced. Lionpoint, of New York, is a consult-tech firm for alternative investment managers.
3 min read · 20 February 2019
Mercer Global Advisors Inc, a Genstar Capital portfolio company, said Feb. 19 that it acquired Arbor Asset Management LLC. Financial terms weren’t announced. Arbor, of Ann Arbor, Michigan, is a wealth manger that serves households throughout the mid-west with assets under management (AUM) of approximately $350 Million.
3 min read · 19 February 2019
Navient Corp has rejected a $3.2 billion offer from Canyon Capital and Platinum Equity Advisors LLC because it’s too low, the Wall Street Journal reported. Navient, of Wilmington, Delaware, is a student loan servicer. UPDATE: On Navient's response to the bid, a company spokesperson made the following statement: “Navient’s Board has been clear that it would consider any bona fide, fully-financed proposal that appropriately reflects the fair value of the Company and has a viable path to completion. The price Canyon indicated substantially undervalues the Company, and Canyon has not provided any substantive information on financing. Prior to today, Canyon has not indicated any willingness to increase its price, and nothing in Canyon’s February 15 letter indicated any willingness to increase its price above $12.50. Of course, we are willing to meet with Canyon. We are always prepared to meet with our significant shareholders.”
1 min read · 19 February 2019
Apollo Global Management has closed its take-private acquisition of Aspen Insurance in an all-cash transaction valued at about $2.6 billion. As a result of the closing, Aspen stopped trading February 15, 2019 on the New York Stock Exchange and the Bermuda Stock Exchange. Goldman Sachs and J.P. Morgan Securities LLC provided financial advice to Aspen on the deal.
5 min read · 15 February 2019
WisdomTree Investments Inc, one of the largest independent ETF managers, held sales talks with JPMorgan Chase last year, Bloomberg reported. The discussions ended in December when the partners couldn’t agree on a price, the story said. WisdomTree is no longer actively pursuing a sale.
1 min read · 12 February 2019
BDT Capital Partners has agreed to acquire Commercial Credit, a commercial finance company. No financial terms were disclosed. Commercial Credit is a portfolio company of Lovell Minnick Partners. The deal is expected to close in the first quarter of 2019.
4 min read · 11 February 2019
