Convex Group Ltd., a specialist insurance and reinsurance company in London and Bermuda, formed by former Lloyd & # 39 ;s London insurers Stephen Catlin and Paul Brand, has raised an additional $ 500 million in capital from an investment firm.
Convex said in a statement on Thursday with Sixth Street Partners LLC that it has secured $ 500 million in committed capital from subsidiaries of the San Francisco-based company. flexibility as we continue our latest drive to grow our business.
Convex was founded in 2019 with $ 1.7 billion in initial capital to take out insurance and reinsurance for complex special risks. Its start-up capital was raised from the convex management team, from Onex V, Toronto-based Onex Corp.'s large private equity fund and a consortium of co-investors.
In November, it announced that it had secured commitments. for an additional $ 1