Trending...
- Skool Alternatives Reddit: Skool vs Circle vs Whop - Did you join one yet?
- Cal State LA secures funding for two artificial intelligence projects from CSU
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
SAN FRANCISCO--(BUSINESS WIRE)--Convex Group Limited ("Convex" or "the Company") has secured $500 million in committed preferred equity capital from affiliates of Sixth Street, a leading global investment firm. The investment follows Convex's recent $1 billion capital raise from a consortium led by Onex and GIC, in which Sixth Street also participated. Sixth Street's investment brings Convex's total committed capital to over $3.2 billion.
Convex is a specialty insurer and reinsurer focused on complex risks, that launched with $1.7 billion of committed capital in April of 2019. Convex underwrites insurance and reinsurance across a diverse range of business lines including aerospace, casualty, energy, marine, property and other lines of business. The company is led by Stephen Catlin, Paul Brand and a team of well-respected insurance industry experts.
Sixth Street is a global investment firm with over $50 billion in assets under management. Sixth Street is an active global investor in insurance and reinsurance businesses through its $24 billion Sixth Street TAO platform.
More on The Californer
Stephen Catlin, CEO of Convex, said: "We are pleased to be partnering with the Sixth Street team to strengthen our position even further in today's cyclically advantageous market environment. This significant additional capital provides us with greater flexibility as we continue our recent momentum in growing our business."
A. Michael Muscolino, Co-Founder and Partner of Sixth Street, said: "With an exceptional track record and disciplined team of underwriters, Convex is uniquely positioned to pursue opportunities made available by a hardening market. Our cross-border financials investing franchise is pleased to be supporting Convex management alongside their impressive existing institutional investor base, and we look forward to our long-term partnership."
JP Morgan and Evercore acted as financial advisors and Slaughter and May and Appleby acted as legal advisors to Convex. Goldman Sachs acted as financial advisor and Willkie Farr & Gallagher LLP and Conyers acted as legal advisors to Sixth Street.
About Convex
Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines. The company brings together best in class talent, a diversity of thought and the freedom and independence of a strong balance sheet to create a fresh approach to business. The Group's ambition is to offer something different to its clients and to engage with them in a true partnership based on fairness, dignity and respect. Convex was founded by Stephen Catlin and Paul Brand and operates out of London and Bermuda. The company has an "A-" (Excellent) A.M. Best rating and an "A-" with stable outlook S&P rating.
More on The Californer
About Sixth Street
Sixth Street is a global investment firm with over $50 billion in assets under management and committed capital. We operate nine diversified, collaborative investment platforms: TAO, Growth, Specialty Lending, Fundamental Strategies, Infrastructure, Opportunities, Insurance, Agriculture, and Credit Market Strategies. Our long-term oriented, highly flexible capital base and "One Team" cultural philosophy allow us to invest thematically across sectors, geographies, and asset classes. Founded in 2009, Sixth Street has more than 320 team members including over 145 investment professionals in nine locations around the world. For more information about Sixth Street, visit www.sixthstreet.com.
Convex is a specialty insurer and reinsurer focused on complex risks, that launched with $1.7 billion of committed capital in April of 2019. Convex underwrites insurance and reinsurance across a diverse range of business lines including aerospace, casualty, energy, marine, property and other lines of business. The company is led by Stephen Catlin, Paul Brand and a team of well-respected insurance industry experts.
Sixth Street is a global investment firm with over $50 billion in assets under management. Sixth Street is an active global investor in insurance and reinsurance businesses through its $24 billion Sixth Street TAO platform.
More on The Californer
- California: Governor Newsom statement on the court temporarily blocking the Trump Administration's unlawful immigration tactics in the Los Angeles area
- Governor Newsom urges Californians to take precautions as state endures triple digit heat, smoky conditions
- Yvette Kendall Secures $6 Million Deal with The Sessions Studios for Horror Thriller, "NORTH"
- Buy The Crave Launches Premium Creatine and Natural Wellness Supplements for Modern Lifestyles
- Long Beach Parks, Recreation and Marine's Homeland Cultural Center Presents DanceFest at Cesar Chavez Park Amphitheater on August 16
Stephen Catlin, CEO of Convex, said: "We are pleased to be partnering with the Sixth Street team to strengthen our position even further in today's cyclically advantageous market environment. This significant additional capital provides us with greater flexibility as we continue our recent momentum in growing our business."
A. Michael Muscolino, Co-Founder and Partner of Sixth Street, said: "With an exceptional track record and disciplined team of underwriters, Convex is uniquely positioned to pursue opportunities made available by a hardening market. Our cross-border financials investing franchise is pleased to be supporting Convex management alongside their impressive existing institutional investor base, and we look forward to our long-term partnership."
JP Morgan and Evercore acted as financial advisors and Slaughter and May and Appleby acted as legal advisors to Convex. Goldman Sachs acted as financial advisor and Willkie Farr & Gallagher LLP and Conyers acted as legal advisors to Sixth Street.
About Convex
Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines. The company brings together best in class talent, a diversity of thought and the freedom and independence of a strong balance sheet to create a fresh approach to business. The Group's ambition is to offer something different to its clients and to engage with them in a true partnership based on fairness, dignity and respect. Convex was founded by Stephen Catlin and Paul Brand and operates out of London and Bermuda. The company has an "A-" (Excellent) A.M. Best rating and an "A-" with stable outlook S&P rating.
More on The Californer
- Sisu, a Portrait of Grit, Connection and Triumph, Premieres on Documentary Showcase
- New Liz Taylor Book Coming Soon: Chasing Elizabeth Taylor
- City of Long Beach Experienced a 4% Decrease in Fireworks-Related Reports on July 4
- The Blue Luna Encourages Local Schools to Take Steps to Enhance Safety for Students and Staff
- Wise Business Plans Launches Turnkey Startup Packages to Help Entrepreneurs Start and Scale
About Sixth Street
Sixth Street is a global investment firm with over $50 billion in assets under management and committed capital. We operate nine diversified, collaborative investment platforms: TAO, Growth, Specialty Lending, Fundamental Strategies, Infrastructure, Opportunities, Insurance, Agriculture, and Credit Market Strategies. Our long-term oriented, highly flexible capital base and "One Team" cultural philosophy allow us to invest thematically across sectors, geographies, and asset classes. Founded in 2009, Sixth Street has more than 320 team members including over 145 investment professionals in nine locations around the world. For more information about Sixth Street, visit www.sixthstreet.com.
Filed Under: Business
0 Comments
Latest on The Californer
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
- First Partner highlights apprenticeship program helping underrepresented youth break into careers in California's iconic entertainment industry
- Stuck Doing Math or Figuring Out Life's Numbers? Calculator.now Makes It Stupidly Simple
- Cal State LA secures funding for two artificial intelligence projects from CSU
- Colbert Packaging Announces WBENC Recognition
- New Mobile Car Detailing Platform Connects Drivers with On-Demand Local Pros
- Over the past three months, California seized $476 million worth of unlicensed cannabis products
- California scores more clean energy records: 9 in 10 days this year partially powered by 100% clean energy
- "Mobile Suit Gundam" Takes Over San Diego Comic-Con 2025
- DivX Empowers Media Enthusiasts with Free Expert Guides for Advanced MP4 Management
- Assent Expands Executive Team to Accelerate Global Growth & Innovation
- The World's Largest Green Economic Revolution Emerges as Nature, Tech, and Finance Converge
- Hamilton Zanze Sponsors the Acquisition of Two Garden-Style Communities in Reno Area
- Meet a Scientologist Captures Greece's Timeless Beauty with Videographer Lambros Malamas
- Vinnetwork Unveils Decentralized AI Platform with Vinnetwork(VIN) Token to Challenge Tech Giants' Data Monopoly
- Moovs Launches Advanced Contact Center Solution for Large-Scale Transportation Operations
- Centennial Flyers to Become Colorado's First Launch Customer for All-Electric B23 Energic Aircraft
- Second Annual Artists' Rights Advocate Award to Be Presented at The Comedy Store on July 17th
- Pyro Marketing Opens New Digital Marketing Company to Power Growth for Fitness and Ecommerce Brands