Ares, GE supply £187m unitranche for Montagu's Open GI

Montagu acquired insurance-focused business software company Open GI in August this year. The transaction has this week been funded through Ares and GE's European Senior Secured Loan Programme (ESSLP). Furthermore, second-lien facilities have been supplied by Ares, and working capital facilities have been provided by GE.

This ESSLP funding marks the fund's biggest deal to date, and its 11th investment so far.

Montagu previously owned Open GI back in 2006, when it was known as Misys General Insurance, and sold it one year later to insurance intermediary Towergate.

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• Topics
• UK / Ireland
• Deals
• Montagu Private Equity
• GE Capital