Noerr advises Aleph Capital Partners and Crestview Partners on €260 million financing of run-off specialist DARAG
Noerr has advised the investment companies Aleph Capital Partners and Crestview Partners on a planned €260 million investment in the DARAG Group. The financing is being carried out via a fund controlled by the investors. The transaction is subject to the usual closing conditions including the required regulatory approval. The closing is expected to take place in the fourth quarter of 2018.
DARAG specialises in the acquisition of inactive insurance portfolios from insurers and reinsurers and has completed 23 transactions worth over €740 million in 15 countries since 2009.
Aleph and Crestview have a strategic alliance for European investment projects. As part of this latest investment, Aleph and Crestview will become shareholders alongside DARAG's existing shareholder, Keyhaven Capital Partners.
Advisors to Aleph Capital Partners/Crestview Partners: Noerr LLP
Dr Thomas Schulz (team lead, Private Equity, London), Dr Thomas Heitzer (Financial Services Regulation, Düsseldorf), Dr Sebastian Janka (Antitrust, München)
Associates: Sebastian Diehl (lead associate, Corporate/M&A, London), Dr Lisa Brasseler, Alexander Erdelen (both Financial Services Regulation, Düsseldorf), Patrick Kalina (Antitrust, Munich)
International lead counsel: Proskauer Rose (UK) LLP
Advisors to Keyhaven: Macfarlanes LLP