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The Largest Network of Diverse-Owned Private Equity Firms and Hedge Funds |
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Season's Greetings from NAIC!The NAIC team would like to wish everyone in our network a Healthy, Happy Holiday Season! NAIC has many things for which to be thankful in 2019 record membership and revenue growth, the success of three exciting new initiatives to foster the next generation of private equity investors, drive increased awareness and capital to our members, a new certification process for diverse asset managers, and a lot more! All of the successful events and initiatives we have announced over the past year are possible because of you and your engagement, which we truly appreciate. |
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NAIC PE Members Gain Access to M&A and Transaction Advisory Services Through Aon PartnershipThe National Association of Investment Companies (NAIC) and Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, announced a partnership that will provide diverse-owned private equity firms access to advisory services that will help them better mitigate risk and reduce transaction costs. With this partnership, NAICs member firms will also have access to Aons broader portfolio of solutions and services across commercial risk, reinsurance, health, retirement and data & analytics. |
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Connect with NAIC on Social Media!Stay up-to-date on the latest news from diverse-owned private equity and hedge funds, news-making deals, NAIC announcements, interviews with high-profile insiders and other industry happenings by following us on social media. |
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NexPhase Capital Announces Sale of FAST to VeriskNexPhase Capital, LP announced that it has entered into a definitive agreement to sell Flexible Architecture & Simplified Technology, LLC (FAST), a leading software company for the life insurance and annuity industry, to Verisk Analytics, Inc. for a purchase price is $193.5 million. Founded in 2010, FAST is a leader among technology companies, supporting the insurance industrys modernization efforts. The Company provides core software that allows life insurers to efficiently enhance or replace their legacy policy administration, new business, and distribution management systems. FAST delivers out-of-the-box, innovative, and flexible SaaS solutions. |
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Clearlake Capital Affiliate Acquires On Point Oilfield HoldingsGravity, a leading water and energy infrastructure company backed by affiliates of Clearlake Capital Group, L.P. announced it has acquired On Point Oilfield Holdings, LLC, creating the largest commercial produced water disposal company by injection volumes in the Midland Basin. Gravity now owns and manages more than 50 active saltwater disposal wells with more than 1 million barrels per day of permitted disposal capacity. Financial terms of the transaction were not disclosed. |
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GCM Grosvenor Closes its Second Multi-Asset Class FundGCM Grosvenor announced that it completed the final close for Multi-Asset Class Fund II at the high end of its targeted capital raise with $983 million in committed capital. Multi-Asset Class Fund II pursues investment opportunities sourced from GCM Grosvenors $57 billion alternative investment platform, with investment capabilities across hedge fund strategies, private equity and debt, infrastructure, and real estate. The platform has 160 investment professionals and relationships with 600 alternative asset managers. |
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Astra Capital Management Names Two PartnersAstra Capital Management recently promoted two members of its team to Partners, Raj Kumar, General Counsel; and Nia Gandy White, Head of Investor Relations and External Affairs. Mr. Kumar has over 25 years of legal experience both as a senior executive at large telecommunication companies and international law firms. He led the legal team responsible for all commercial transactions for Time Warner Cable from 1999-2016. Mr. Kumar has a BA from Rutgers University (summa cum laude) and a JD from George Washington University with Honors. Prior to joining Astra, Ms. White was a Marketing Manager at GP Investments, a $5 billion Brazilian private equity fund, and an Investment Principal in the Investor Development Group at Actis. She has a BS in Economics and an MBA from The Wharton School of the University of Pennsylvania. |
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