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Generali $22bn portfolio sale to private equity complicated by rate surge.?
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Silver Lake , a private equity firm, and CPP Investments | Investissements RPC , an investment management company, completed the acquisition of Qualtrics , an experience management company, from SAP , a software company, for $12.5bn.
“Qualtrics has cemented its position as the leader in experience management, and our AI-powered platform is helping more than 19,000 organizations deliver exceptional experiences and build deep relationships with their customers and employees at scale. Silver Lake’s deep understanding of our business and vision for Experience Management, combined with their strategic and operational expertise and the support of our other investors, creates an incredible opportunity for Qualtrics to accelerate our innovation and category leadership,” Zig Serafin, Qualtrics CEO.
Qualtrics was advised by 高盛 , 摩根士丹利 , 富而德律师事务所 (led by? Ethan Klingsberg ?and? Sebastian Fain ), Goodwin ?(led by? Anthony McCusker ,? Joshua Zachariah ?and? James Ding ) and Joele Frank (led by? Scott Bisang ). Legal advisors were advised by Sullivan & Cromwell LLP (led by? John Savva ). Silver Lake was advised by 瑞信 , J.P. 摩根 , 瑞银集团 , Simpson Thacher & Bartlett LLP , 爱德曼 ?(led by? Jennifer Stroud ) and Latham & Watkins (led by? Max Schleusener ,? Justin G. Hamill ,? Michael Anastasio ?and? Andrew Clark ). CPPIB was advised by Weil, Gotshal & Manges LLP (led by? Tim Burns ?and? Doug Warner ). SAP was advised by Barclays and Shearman & Sterling LLP (led by? Daniel Mitz ).
Japan Investment Corporation (JIC) , a sovereign wealth fund located in Tokyo, agreed to acquire JSR Corporation , a semiconductor materials maker, for $6.35bn.
The move by JIC, overseen by the powerful trade ministry, is the latest in a series of increasingly muscular government steps to regain Japan's lead in advanced chip production and maintain its edge as a maker of materials and tools used in their manufacture.
JIC is advised by J.P. 摩根 .
IBM , an American multinational technology corporation, agreed to acquire Apptio, an IBM Company , a provider of financial and operational IT management and optimization software, from Vista Equity Partners , a private equity firm, for $4.6bn.
"Technology is changing business at a rate and pace we've never seen before. To capitalize on these changes, it is essential to optimize investments that drive better business value, and Apptio does just that. Apptio's offerings combined with IBM's IT automation software and watsonx AI platform, gives clients the most comprehensive approach to optimize and manage all of their technology investments," Arvind Krishna, IBM CEO and Chairman.
IBM is advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by? Steven Williams ,? Laura Turano ?and?Scott Barshay).
Brookfield , a global alternative asset manager, offered to acquire the remaining stake in American Equity , an issuer of fixed index annuities, for $4.3bn.
"The Board will carefully review Brookfield Reinsurance's proposal in accordance with its fiduciary duties and in consultation with its independent financial and legal advisors. American Equity will have no further comment on the proposal until the Board has completed its review. It is important to note that there is no guarantee that an agreement will be reached or on what terms," American Equity.
American Equity is advised by Ardea Partners , J.P. 摩根 , Sullivan & Cromwell LLP and FGS Global (led by? Robin Weinberg ?and? Jared Levy ).
?Generali $22bn portfolio sale to private equity complicated by rate surge.?
Generali 's plans to shed up to $22bn of insurance liabilities are being hampered as a surge in interest rates has complicated talks with buyers,?Reuters ?reported.
The Italian insurer embarked on a process late last year to sell a large batch of domestic life insurance contracts to free up capital. It has been working with 高盛 to sound out buyers for the portfolio, including Portugal-based GamaLife , backed by Apax , and Bermuda-based Athora , backed by Apollo Global Management, Inc. .
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