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Global Atlantic raised over $2.4bn for reinsurance co-investment vehicle Ivy II. (FS)?
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TPG , an alternative asset management firm, agreed to acquire global governments and critical infrastructure business from Francisco Partners -backed Forcepoint , a security company, for $2.45bn.
“It’s our mission to support the national security and intelligence communities by providing trusted, data-driven security solutions that enable them to collaborate and conduct mission-critical work securely and effectively. TPG has a long history of carving-out, building, and scaling world-class cybersecurity companies. We’re confident that this partnership, along with continued support from Francisco Partners, will provide us the resources and expertise to strengthen our position as a partner of choice for government agencies," Sean Berg, Forcepoint President.
Francisco Partners is advised by Barclays , 花旗 and Sloane & Company . TPG is advised by Piper Sandler and Davis Polk & Wardwell LLP (led by? Oliver Smith ?and? Darren Schweiger ). Forcepoint is advised by 普衡律师事务所 .
Houlihan Lokey , an investment bank that offers financial services, agreed to acquire 7 Mile Advisors , a provider of investment banking and advisory services. Financial terms were not discloesd.
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“Houlihan Lokey’s entrepreneurial, team-oriented culture and global presence make it an excellent home for 7MA, and we’re excited to be joining the largest and most active business services investment banking team. Our clients will benefit tremendously from the firm’s industry focus, superior capital markets capabilities, and a depth of financial sponsor relationships that is second to none. We look forward to joining our new colleagues around the world to build on the firm’s successes to date in the IT services sector,” Leroy Davis, 7 Mile Advisors Founding Partner.
Gucci -owner 开云 will pay?€3.5bn ($3.83bn) for acquiring high-end French fragrance label Creed in June. Part of the reason the details of the transaction were not provided earlier was that the companies did not want to broadcast Creed's steep profit margins,?FT ?reported.
The French luxury group made the acquisition since flagging intentions earlier in the year to create an in-house cosmetics business. The all-cash deal to acquire 100% of the fragrance house from funds controlled by BlackRock and by the company's current chairman Javier Ferran is expected to close in the second half this year.
Creed is advised by Centerview Partners . BlackRock is advised by J.P. 摩根 .
Thames Water shareholders invested ￡750m ($963m) in Thames Water , a private utility company responsible for the water supply.
“This announcement is a major milestone for Thames and all our stakeholders. Since June 2022, we have engaged constructively with shareholders, working towards a common goal of developing a long term, comprehensive, financeable and enduring business plan for the Company to improve operational performance and financial resilience for the benefit of our customers and the environment. The substantial equity support package announced today will underpin the delivery of a more focused turnaround plan that builds on the foundations that have been put in place over the last two years and focuses expenditure on a smaller number of initiatives, which will deliver material and sustainable improvements in key performance metrics over the next three years," Cathryn Ross and Alastair Cochran, Thames Water Interim Co-CEOs.
Global Atlantic raised over $2.4bn for reinsurance co-investment vehicle Ivy II. (FS)
Global Atlantic Financial Group announced the final close of Ivy Co-Invest Vehicle II LLC, a reinsurance co-investment vehicle. With the final close, Ivy II brings its total capital to more than $2.4bn.
"This is a great time to bring additional capital to the industry, and we are thrilled that our strategic partnership with KKR has allowed us to broaden the group of investors in Global Atlantic and Ivy II. With access to Ivy II's committed capital, we can do more to serve our reinsurance clients in a growing market," Phil Sherrill, Global Atlantic Chief Strategy Officer.
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