MONTREAL and NEW YORK, Sept. 28, 2016 /PRNewswire/ -- Caisse de dépôt et placement du Québec (CDPQ) announced today a USD 500-million investment in Sedgwick, a leader in third-party claims administration in the United States.
After the transaction, CDPQ will hold a significant minority interest in the capital of Sedgwick, in partnership with the existing shareholders, including KKR, the majority shareholder, Stone Point and members of Sedgwick's management.
"This investment, carried out alongside quality partners such as KKR and Stone Point, and under the leadership of Christian Puscasiu, Head of Americas, Private Equity, is consistent with CDPQ's strategy to invest directly in companies that stand out in their market, said Roland Lescure, Chief Investment Officer of CDPQ. "Sedgwick is operating in a promising market. The company has performed remarkably over time and its management has a solid track record. We particularly appreciate how resilient the company has been throughout the various cycles and its stable, long-term growth strategy, which is perfectly aligned with CDPQ's investor profile."
"We are glad to welcome CDPQ as partners who share our confidence in Sedgwick's future and in management's ability to continue their strong track record of industry-leading innovation", said Tagar Olson, Member and Head of Financial Services investments at KKR.
"We are delighted that CDPQ will be joining KKR and Stone Point as investors in Sedgwick. We have known and respected the team at CDPQ for many years, and look forward to working with them during the next phase of Sedgwick's growth", said Jim Carey, Senior Principal of Stone Point Capital.
ABOUT SEDGWICK
Sedgwick Claims Management Services, Inc., is a leading global provider of technology-enabled risk and benefits solutions. At Sedgwick, caring counts SM; the company takes care of people and organizations by delivering cost-effective claims, productivity, managed care, risk consulting and other services through the dedication and expertise of more than 14,000 colleagues in some 275 offices located in the U.S., Canada, U.K. and Ireland. Sedgwick facilitates financial and personal health and helps customers and consumers navigate complexity by designing and implementing customized programs based on proven practices and advanced technology that exceed expectations. Sedgwick's majority shareholder is KKR; Stone Point Capital LLC and other management investors are minority shareholders. For more, see www.sedgwick.com
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2016, it held $254.9billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
ABOUT KKR
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
ABOUT STONE POINT CAPITAL
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed six private equity funds – the Trident Funds – with aggregate committed capital of approximately $13 billion. Stone Point targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. For further information about Stone Point, visit www.stonepoint.com.
For more information:
Maxime Chagnon
Senior Director, Media and Public Relations
+ 1 514 847 5493
[email protected]
KRISTI HULLER OR CARA KLEIMAN
KKR
[email protected]
Catherine Bennett
Public Relations Director
Sedgwick inc.
[email protected]
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SOURCE Caisse de depot et placement du Quebec
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