Convex Group Raises $500 Million in Preferred Equity Capital from Sixth Street
The Californer/10114439

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

• Marissa Goodbody's The Sloth, the Shrew, & the Cockatoo Takes Young Readers on a Rhyming Adventure
• NEW: Report shows major progress in California on preparing for wildfire, avoiding millions of tons of carbon pollution and toxic smoke
• Governor Newsom on the California Supreme Court ruling Sheriff Bianco illegally seized ballots
• Jacqui Condon Selected to Workers' Compensation Panels for Three Professional Athlete Associations
• Southland Symphony Season Opener - "An American Journey"

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

• Buddy Reed & The Rip It Ups Bring Their Authentic Blues To Bayside Grange For A Harvest Moon Dan
• Pervaziv AI Adds Collections, Chat Forks and Governed Workflows, Advancing Cortex from Chat to Verified Work
• New Metallized PE Film from Pregis Brings Recyclability to High-Barrier Food Packaging at Pack Expo International in Chicago
• Sonoma County's Largest Pop-up Used Book Sale Benefits Five Sonoma County Libraries
• Transformational $104 Million Musculoskeletal Healthcare Opportunity as Expansion Strategy Accelerates for Cardiff Lexington Corp (Stock Symbol: CDIX)

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.

---

Show All News | Disclaimer | Report Violation