Torus announces $185m equity investment boost
Torus has announced an additional equity investment of $185m (£120m) to support the expansion of its specialty insurance and reinsurance businesses.
The additional financing, which is subject to regulatory approval and other customary conditions, will increase Torus’ equity capital to over $1bn.
Some $150m of equity capital will be provided by Corsair Capital, a New York-based private equity firm.
The balance will come from private equity funds managed by First Reserve Corporation, a private equity firm and Torus’s founding investor and majority shareholder.
Following the investment, Corsair will be represented on Torus’ board of directors.
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