Investment Summary

The Blackstone Group and Thomas H. Lee Partners Invest In LaSalle Re

On November 1, 1993, private equity firms The Blackstone Group and Thomas H. Lee Partners invested in insurance company LaSalle Re for 378M USD

Investment Highlights
  • This is The Blackstone Group’s 1st and Thomas H. Lee Partners’ 1st transaction in the Insurance sector.
  • This is The Blackstone Group’s 142nd and Thomas H. Lee Partners’ 28th largest (disclosed) transaction.
  • This is The Blackstone Group’s 1st and Thomas H. Lee Partners’ 1st transaction in Bermuda.
Investment Fate
  • LaSalle Re was sold to a strategic buyer in 2002.

Investment Summary

Date 1993-11-01
Target LaSalle Re
Sector Insurance
Investor(s) The Blackstone Group
Thomas H. Lee Partners
Deal Type Stake Purchase
Deal Value 378M USD

Target

LaSalle Re

Hamilton, Bermuda
LaSalle Re was a Bermuda-based insurance and reinsurance company.

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Investor(S) 2

Investor

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 11 of 362
Sector: Insurance M&A 1 of 10
Type: Stake Purchase M&A Deals 7 of 50
Country: Bermuda M&A 1 of 5
Year: 1993 M&A 4 of 5
Size (of disclosed) 142 of 183
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-09-01 Alco Holdings

Hong Kong, China

Alco Holdings was a Hong Kong-exchange listed manufacturer of consumer electronics goods.

Buy $16M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1993-12-01 DeBartolo Corp

United States

At acquisition, Edward J. DeBartolo Corp. was one of the leading owners of regional malls in the U.S. In addition, DeBartolo owned the Ralph’s Grocery Company supermarket chain, the San Francisco 49ers NFL franchise, and various other assets.

Buy $110M
Investor

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 92
Sector: Insurance M&A 1 of 7
Type: Stake Purchase M&A Deals 1 of 5
Country: Bermuda M&A 1 of 4
Year: 1993 M&A 1 of 1
Size (of disclosed) 28 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1987-01-01 Panache Broadcasting

Bala Cynwyd, Pennsylvania, United States

Panache, a company led by a twenty-year radio veteran Charles Schwartz, was formed in 1992 to purchase and operate radio stations in Philadelphia and Indianapolis.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-08-27 Spectrum Brands

Middleton, Wisconsin, United States

Spectrum Brands is a diversified consumer products company and a supplier of consumer batteries, residential locksets, residential builders’ hardware and faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden, and home pest control products, and personal insect repellents. Spectrum Brands was founded in 1906 and is based in Middleton, Wisconsin.

Buy -