American International Group and CVC announced a strategic partnership “designed to support AIG‘s (AIG) long-term investment objectives in partnership with CVC’s broad capabilities in insurance solutions and private markets innovation,” the company said. Under the partnership, CVC will establish its private equity secondaries evergreen platform with AIG acting as a cornerstone investor, contributing up to $1.5 billion from AIG’s existing private equity portfolio. This will provide immediate scale and a seed portfolio for CVC’s private equity secondaries evergreen strategy and enables AIG to efficiently manage and transition its legacy private equity exposures.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AIG:
- Insurance Giant AIG Teams up With CVC Capital Partners in $3.5B Investment Move
- AIG price target lowered to $83 from $84 at Mizuho
- AIG price target lowered to $77 from $80 at Cantor Fitzgerald
- AIG price target raised to $85 from $83 at Wells Fargo
- AIG price target lowered to $81 from $88 at Barclays