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Towergate backers complete £800m fund raising

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Chase Templeton and Direct Group purchases also completed.

KIRS Group, created by Towergate-backers HPS Investment Partners and Madison Dearborn Partners at the start of May, has completed an £800m bond offering describing it as “significantly oversubscribed among both UK and US investors”.

The new group announced the bond offering towards the end of May saying it would use the money to refinance existing debt, pay for buying Chase Templeton and Direct Group, pay transaction costs and put cash on its balance sheet.

Earlier this month KIRS revealed

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