M&A Deal Summary

Fortress Investment Group and PCG Capital Partners Acquires Alea Group Holdings Bermuda

On June 15, 2007, asset manager Fortress Investment Group and PCG Capital Partners LLC acquired insurance company Alea Group Holdings Bermuda Ltd. for 460M USD

Acquisition Highlights
  • This is Fortress Investment Group’s 1st and PCG Capital Partners’ 1st transaction in the Insurance sector.
  • This is Fortress Investment Group’s 14th and PCG Capital Partners’ 1st largest (disclosed) transaction.
  • This is Fortress Investment Group’s 1st and PCG Capital Partners’ 1st transaction in Bermuda.
Investment Fate
  • Alea Group Holdings Bermuda was sold to a strategic buyer in 2013.

M&A Deal Summary

Date 2007-06-15
Target Alea Group Holdings Bermuda Ltd.
Sector Insurance
Buyer(s) Fortress Investment Group
PCG Capital Partners LLC
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 460M USD

Target

Alea Group Holdings Bermuda Ltd.

Hamilton, Bermuda
website
Alea is a worldwide provider of reinsurance, insurance, financial, and alternative risk products headquartered in Hamilton, Bermuda.

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Buyer(S) 2

Buyer

Fortress Investment Group

New York, New York, United States

website


Category Asset Manager
Founded 1998
PE ASSETS 36.1B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress is based in New York City with additional offices in Atlanta, Chicago, Dallas, Frankfurt, Geneva, Hong Kong, London, Los Angeles, Munich, New Canaan, Rome, San Diego, San Francisco, Sydney, Tokyo, and Toronto.


DEAL STATS #
Overall 22 of 44
Sector (Insurance) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 10 of 15
Country (Bermuda) 1 of 1
Year (2007) 4 of 8
Size (of disclosed) 14 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-08 Florida East Coast Railway LLC

Jacksonville, Florida, United States

Florida East Coast Railway provides rail service along the east coast of Florida and is the exclusive provider of rail service to South Florida’s ports—Port Miami, Port Everglades, and the Port of Palm Beach.

Buy $3.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-27 Green Tree Servicing LLC

St. Paul, Minnesota, United States

Green Tree Servicing LLC provides home loan servicers in the United States.

Sell -
Buyer

PCG Capital Partners LLC

La Jolla, California, United States

website


Category Private Equity Firm
Founded 1993
PE ASSETS 1.0B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

PCG Capital Partners (PCG) is the direct private equity investment arm of the Pacific Corporate Group, an investment firm that also manages private equity fund investments. PCG provides non-control equity capital to help fund growth initiatives at both public and private companies. Sectors of interest span business services, consumer, energy, financial services, healthcare, industrial, and communications. PCG looks to commit between $15 and $75 million of capital per transaction. The Firm's geographic preference is for North American based opportunities. PCG was formed in 1993 and is based in La Jolla, California.


DEAL STATS #
Overall 6 of 9
Sector (Insurance) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 3
Country (Bermuda) 1 of 1
Year (2007) 2 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-09 AECOM

Los Angeles, California, United States

AECOM is a global provider of professional technical and management support services for public and private clients around the world. AECOM provides planning, consulting, architectural and engineering design, and program and construction management services for a broad range of projects, including highways, airports, bridges, mass transit systems, government and commercial buildings, water and wastewater facilities and power transmission and distribution. AECOM also provides program and facilities management and maintenance, training, logistics, security and other support services, primarily for agencies of the US government. AECOM was formed in 1980 and is based in Los Angeles, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 ORBCOMM, Inc.

Rochelle Park, New Jersey, United States

ORBCOMM is a wireless data communications company, provides machine-to-machine communication solutions. ORBCOMM was founded in 2001 and is based in Rochelle Park, New Jersey.

Sell -