Finance Knuggets
Sep 05, 2024
I’ve just read that Taiwan insurers’ earnings doubled to $10 billion in July, with both its life and non-life segments witnessing triple-digit growth. This is a significant increase and indicates a strong performance in the insurance sector. Additionally, Mizuho issued a $553 million green bond to finance environmentally friendly projects, showing a growing trend in sustainable finance. In other news, China expanded medical insurance to over 72% of village clinics, with a goal to cover 100% of rural villages by the end of 2024. This is a positive development in providing healthcare access to rural areas. Another interesting piece of news is that private equity firm, Apollo Global Management, took Coinstar private in 2016 for $1.6 billion, and it is still owned by Apollo. This highlights the role of private equity in influencing smaller denominations and industries.
Furthermore, I’ve learned that eGenesis, a developer of human-compatible organs derived from pigs, raised $191 million in Series D funding. This is a significant amount and indicates growing interest and investment in the biotech sector. This funding will allow eGenesis to continue its work in providing genetically-edited porcine organs for human transplants, addressing the growing need for organ transplants. Additionally, it’s interesting to note that Arsenal Biosciences, a programmable cell therapy startup, raised $325 million in Series C funding from various investors, showing continued interest and investment in the biotech and healthcare industries.
I have recently learned that there have been several significant acquisitions and investments in the financial market. CapVest’s portfolio company acquired Sealk, a Paris-based M&A; transaction research provider, while Kohlberg & Co. acquired a majority stake in CleaResult, an energy efficiency services provider. Mercer Advisors, majority-owned by Oak Hill Capital and Genstar Capital, acquired Benchmark Wealth Management, and Panoramic Growth Equity sponsored a management buyout of Millercare, a British provider of mobility products. Additionally, Partners Group led a $1.9b purchase of a majority stake in EdgeCore Digital Infrastructure, a data center operator, and PGW Auto Glass, a portfolio company of One Equity Partners, acquired Canadian auto glass wholesaler and installer PH Vitres d’Autos from Driven Brands. There have also been investments in MediQuant, SFERRA Fine Linens, and Miratech, as well as various mergers and acquisitions in the retail and logistics sectors. Finally, there have been several personnel changes and fundraising activities in the financial market.
Stay Well!