Carlyle Group and Hellman & Friedman Form Vantage Insurance Platform
Posted on 12/04/2020
The Carlyle Group (NASDAQ: CG) and Hellman & Friedman (H&F), together with management, have invested US$ 1 billion of equity capital in Vantage Group Holdings Ltd. with the potential to increase their investment as growth opportunities arise. Vantage Risk Ltd. is the wholly owned re/insurance subsidiary of Vantage Group. Vantage Group is led by CEO Greg Hendrick, a thirty-year industry veteran and former CEO of AXA XL. Forty-year industry veteran Dinos Iordanou, retired President and CEO of Arch Capital Group Ltd., is serving as Non-Executive Chairman of Vantage.
Vantage Risk provides property catastrophe reinsurance – covering predominantly North America, Europe, Japan and Australia – as well as specialty reinsurance across property and casualty classes including marine, energy, aviation, crop, workers’ compensation, property per-risk and mortgage.
Carlyle’s equity capital for the investment comes from Carlyle Partners VII, an US$ 18.5 billion fund that focuses on buyout transactions in the U.S., and Carlyle Global Financial Services Partners III, L.P., a dedicated financial services buyout fund. H&F has deployed capital from Hellman & Friedman Capital Partners IX, a fund with US$ 16.5 billion of committed capital targeting investments in select sectors across North America and Europe.
J.P. Morgan acted as sole financial advisor to Vantage.