Wragge & Co closes CBPE investment
The Birmingham office of law firm Wragge & Co has advised CBPE Capital on its investment in insurance management company Kane Group. The deal included a reorganisation of the Kane Group and its $27.5m (£17m) acquisition of HSBC's insurance management businesses.
Entirely funded by CBPE, the transaction creates the world's largest independent insurance manager.
The deal, which is subject to regulatory approvals, will form an expanded group with operations in the UK, North America, Bermuda, Cayman, Guernsey, Malta and the Middle East.
Wragge & Co partner Andy Stylianou and director Gareth Baker led the international transaction.
Stylianou said: "As a valued adviser to CBPE, our in-depth understanding of its investment and acquisition strategy, coupled with our vast experience of mid-market private equity transactions, ensured we achieved a successful outcome for CBPE."
CBPE specialises in mid-market UK private equity, managing funds totalling €1bn on behalf of institutional investors from the UK, Europe, Middle East and US.
Reed Smith acted for Kane Group and the management team of the newly formed company. Bermuda-based Conyers Dill & Pearman advised HSBC.
