ADIA and CVC Capital Participate in Equity Backing of Fidelis Insurance Holdings
Posted on 06/12/2020
Bermuda-based Fidelis Insurance Holdings Ltd. raised US$ 500 million of equity capital from existing investor relationships. The backers in this round include Abu Dhabi Investment Authority (ADIA), CVC Capital Partners, and Crestview Partners. Post-deal, the reinsurer will have capital for underwriting in excess of US$ 2 billion.
Fidelis Insurance Holdings raised US$ 300 million in February 2020.
Fidelis was advised on the transaction by Evercore and Willkie Farr & Gallagher LLP.
Fidelis Insurance Holdings was formed in June 2015 and had initially raised around US$ 1.5 billion in equity capital from Crestview Partners, CVC Capital Partners, and Pine Brook.