Debevoise & Plimpton LLP is advising Nassau Reinsurance Group Holdings L.P. (“Nassau”) in its acquisition of The Phoenix Companies, Inc. (“Phoenix”) for $37.50 per share in cash, or aggregate equity purchase price of $217.2 million.
The Phoenix Companies, Inc. (NYSE: PNX) helps financial professionals provide solutions, including income strategies and insurance protection, to families and individuals planning for or living in retirement. Founded as a life insurance company in 1851, Phoenix offers products and services designed to meet financial needs in the middle income and mass affluent markets. Phoenix is headquartered in Hartford, Connecticut, and has two insurance company operating subsidiaries: Phoenix Life Insurance Company, which has its statutory home office in East Greenbush, New York, and PHL Variable Insurance Company, which has its statutory home office in Hartford, Connecticut.
Nassau was launched in April 2015 and is an insurance and reinsurance business founded by insurance industry executives Phillip J. Gass and Kostas Cheliotis. Nassau is backed by Golden Gate Capital (“Golden Gate”), a private investment firm founded in 2000 with more than $15 billion of committed capital.
The Debevoise team is led by counsel Michael D. Devins and includes partners Jonathan F. Lewis, Maeve O’Connor and Vadim Mahmoudov, counsel Kyra K. Bromley and Judith L. Church, and associates Amanda M. Bartlett, Olga Kaplan Buland, Uri Herzberg, Mathias Iranzo, Raj Krishnan, Daniel Priest and Zachary H. Saltzman.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.