Iris Dorbian
Old Mutual has agreed to sell Skandia Germany and Skandia Austria for 220 million euros to Cinven and Hannover Re. Skandia Germany and Skandia Austria are respectively the German and Austrian wealth management businesses of Old Mutual.
PhillipCapital said Friday that it has closed its buy of Thailand-based life insurer Finansa Life Assurance Co Ltd. No financial terms were disclosed. Finansa's name was officially changed to Phillip Life, effective March 13, 2014.
Blackstone said Friday that it has raised $7 billion for its fourth European real estate fund. According to the firm, this figure is the "largest ever" it has closed for its European real estate fund.
Alternative asset manager Ares Capital Management has named Grant Haggard and Brian Moncrief as managing directors. Both will be based in the firm’s Chicago's office. Previously both Haggard and Moncrief worked at Madison Capital Funding where they served as senior members of the business development team. Ares Capital Management is the investment advisor for specialty finance company Ares Capital Corp.
Money transfer firm MoneyGram has priced its secondary offering of 8 million shares at $16.50 per share. The shares are being sold by stockholders Thomas H. Lee Partners and Goldman Sachs. BofA Merrill Lynch, Wells Fargo Securities, Goldman Sachs, and J.P. Morgan are the lead underwriters. Also, upon closing of the transaction, which is expected to occur on April 2, 2014, MoneyGram will repurchase over 8.1 million shares of common stock from Thomas H. Lee Partners at $16.25 per share in a private placement.
Global asset manager Affiliated Managers Group is acquiring a stake in EIG. No financial terms were disclosed. EIG's management team will remain majority stakeholders. Also, EIG has named William C. Sonneborn as president, effective May 5, 2014. Headquartered in Washington, D.C., EIG is a private equity firm that focuses on energy and energy-related infrastructure companies.
Blackstone Energy Partners has launched Global Water Development Partners, a new water investment and development platform. Usha Rao-Monari, former global head of IFC's water and wastewater group, and Lars Thunell, former IFC CEO, will lead the company.
KKR has teamed up with energy firm Fleur de Lis Energy to form a partnership that will make investments in producing oil and gas properties in North America. The partnership will join KKR's Natural Resources platform.
Canadian International Oil Corp. said Thursday that it has received C$200 million from Riverstone. According to the company, the capital will be used to support CIOC's development program in the Western Canadian Deep Basin. Based in Calgary, CIOC is an oil and gas company.
Levine Leichtman Capital Partners has raised $1.65 billion in the final close of its fifth fund. The target was $1.5 billion. The pool's LPs include public and private pension funds, sovereign wealth funds, endowments and foundations, insurance companies, fund of funds and family offices.