US private equity firm Blackstone takes minority stake in Partners Life with $200 mln investment

Mon, 30 May 2016

By Paul McBeth May 30 (BusinessDesk) - US private equity firm Blackstone has taken a large minority stake in local health and life insurer Partners Life with a $200 million investment in preparation for a future listing. Blackstone will hold less than 50 percent with "a significant minority shareholding", though the actual level wasn't disclosed. The investment is new capital, meaning Partners Life's other shareholders, which includes Maui Capital and Rangatira Investments, will remain co-invested alongside the private equity firm, and i...

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