Allianz, BlackRock and T&D in consortium for Cinven's Viridium stake

Reuters

Wed, Mar 19, 2025, 4:51 AM 1 min read

FRANKFURT (Reuters) -A consortium that includes Allianz, BlackRock and T&D Holdings are investing successful Viridium Group successful a 3.5 cardinal euro ($3.82 billion) woody that volition spot the backstage equity institution Cinven exit arsenic a bulk investor, the companies said connected Wednesday.

Viridium is simply a institution that specializes successful buying existing beingness security portfolios, and it volition proceed to run arsenic a stand-alone platform.

The merchantability has been successful the works for months and Reuters reported past week that a woody was near.

T&D, a Japanese insurer, volition clasp the biggest share. Generali and Hannover Re , which were already investors, volition stay shareholders.

"The consortium is structured to besides alteration the summation of different semipermanent fiscal investors," the companies said.

($1 = 0.9168 euros)

(Reporting by Tom Sims and Alexander Huebner; editing by Matthias Williams and Madeline Chambers)