 |
Kekst CNC represents RenaissanceRe Holdings as it acquires American International Group’s Validus Reinsurance in a deal valued at $3B.
The acquisition creates a Top 5 global property and casualty reinsurer.
Kevin O’Donnell, RenaissanceRe CEO, said the deal provides “access to a large book of reinsurance business in a favorable market environment” and “accelerates three drivers of profit—underwriting, fee and investment income.”
The acquisition also strengthens RenaissanceRe’s relationship with AIG, which is expected to make substantial investments in RenaissanceRe’s Capital Partners unit.
Kekst CNC co-CEO Jeremy Fielding, vice chairman Jeffrey Taufield, partner Nicolas Capuano, associate Emma Cloyd and senior analyst Jack Keeler handle the RenaissanceRe business.
Publicis Groupe owns Kekst CNC.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
