Financials
Blackstone and GIC to acquire Rothesay stakes
Blackstone and Singaporean sovereign wealth fund GIC are set to each buy a 30% stake in UK-based insurer Rothesay Life from Goldman Sachs, according to reports.
Sagard invests in Santiane
Sagard has taken a minority stake in French online insurance broker Groupe Santiane, while previous backer BNP Paribas Private Equity has exited the company.
JZ Capital backs Winn Group and Fidor Bank
London-listed private equity fund JZ Capital Partners (JZCP) has expanded its European portfolio with investments in the UK and Germany.
Private equity firms eye Spain's Evo Banco
Private equity houses are circling a division of one of Spain’s nationalised banks, Evo Banco, according to the Financial Times.
BC's Foxtons to raise £55m in flotation
London-based estate agent Foxtons, backed by BC Partners, is to float on the London Stock Exchange in September and plans to raise ТЃ55m in a sale of both new and BC-owned shares.
Advent mulls Co-op insurance bid
Advent International has teamed up with former RSA Insurance boss Andy Haste to bid for Co-operative Groupтs insurance arm.
Sector focus: Playing it safe in the insurance market
Sector focus: Insurance
Oaktree's Bellpenny picks up KMF
Bellpenny, a wealth manager backed by Oaktree Capital, has acquired Glasgow-based KM Financial Advisers (KMF).
Cinven buys Heidelberger Leben from Lloyds for €300m
Cinven has acquired a majority stake in Heidelberger Leben, a German provider of retirement and life insurance products, from Lloyds Banking Group for around €300m.
Countrywide backers in £200m partial sale
Two backers of listed UK estate agent Countrywide, Oaktree Capital Management and Apollo Management, have sold approximately ТЃ200m of their shares on the LSE.
CVC acquires Domestic & General from Advent
CVC has agreed to buy insurance business Domestic & General (D&G) from Advent International, alongside management.
Alchemy offloads Cathedral for £266m
Private equity firm Alchemy Partners has divested Lloyd's of London underwriter Cathedral Capital to Lancashire Holdings for ТЃ266m.
Duke Street's Payzone Group sells Cashzone subsidiary
Payzone Group, a consumer payment acceptance network backed by Duke Street, has sold its Cashzone subsidiary to US-based ATM services provider Cardtronics for a total consideration of ТЃ107.5m.
LDC sells Avelo for £210m
LDC has sold financial services software company Avelo to Iress, an Australian financial services technology specialist, for ТЃ210m.
ING in talks with MBK Partners over Korean life insurance arm
Dutch bank ING is in talks with South Korean private equity firm MBK Partners over a sale of the bank’s Korean life insurance arm, according to reports.
Abraaj divests Acibadem Insurance
The Abraaj Group has sold its 50% stake in Turkish health insurance firm Acibadem Sağlık ve Hayat Sigorta (Acibadem Insurance) to Khazanah Nasional Berhad, the Malaysian government’s strategic investment fund.
AnaCap backs Simply Business MBO
AnaCap Financial Partners has backed the ТЃ50m management buyout of Simply Business, a UK insurance provider to small businesses.
Corsair's Davies eyes Lloyds
Former trade minister Lord Mervyn Davies, vice-chairman of US-based private equity firm Corsair Capital, is in the midst of assembling a group of investors to acquire a ТЃ10bn stake in Lloyds Banking Group, according to reports.
AA and Saga looking to refinance, then split
The AA group and Saga, backed by CVC, Charterhouse and Permira, are to issue a long-term bond to refinance £4bn of bank debt, which could lead to a break-up.
BC brings in the banks for Foxtons float
BC Partners has hired Credit Suisse, Numis Securities and Canaccord Genuity to handle the flotation of London estate agency Foxtons.
Cinven to reap 7x from Partnership IPO
Cinven-backed Partnership Assurance Group (PAG) has listed on the London Stock Exchange, in an IPO valuing the business at ТЃ1.54bn.
JC Flowers sells half of CCM to Encore
JC Flowers has sold a 50.1% stake in Cabot Credit Management (CCM) to Encore Capital Group for ТЃ128m, just two weeks after acquiring the UK-based consumer debt manager from AnaCap Financial Partners.
Warburg Pincus and General Atlantic acquire 50% of SAM
Warburg Pincus and General Atlantic have taken a 50% stake in Santander Asset Management for €700m.
Lundin exits Vostok Nafta to Luxor Capital
Lundin, via Lorito Holdings Ltd and Zebra Holdings and Investments Ltd, has exited Vostok Nafta Investment Ltd to Luxor Capital.