GIC and Onex’s $1 Billion Investment In Convex Group Limited

Sidley Austin LLP advised GIC Private Limited on the deal. Slaughter and May, Cravath, Swaine & Moore LLP and Appleby advised Convex Insurance.

GIC and Onex Corporation (“Onex”) led a consortium of existing and new co-investors in committing to invest $1 billion in Convex Group Limited (“Convex” or the “Company”). This capital raise is subject to customary regulatory approvals. This additional $1 billion in capital commitments brings Convex’s total committed capital raised to more than $2.7 billion.

Convex is a specialty insurer and reinsurer focused on complex risks that launched with $1.7 billion of committed capital in April of 2019. Convex underwrites insurance and reinsurance across a diverse range of business lines including aerospace, casualty, energy, marine, property and other lines of business. The company is led by Stephen Catlin, Paul Brand and a team of well-respected insurance industry experts.

The Sidley Austin team was led by Asi Kirmayer (Picture) and Martin Membery and also included Fatema OrjelaHannie Syeda, James Phythian-Adams, Cyril Cuhtina, Tom Feeney and Hannie Syeda.

Slaughter and May’s team included Murray Cox, Partner, Wallis Rushforth, Associate, Emily Hunter, Associate, Ritish Desai, Trainee, Jan Putnis, Partner, David Shone, Associate, Azadeh Nassiri, Partner, Peixin Truong, Associate and Mike Lane, Partner.

Involved fees earner: Cyril Cutinha – Sidley Austin LLP; Tom Feeney – Sidley Austin LLP; Asi Kirmayer – Sidley Austin LLP; Martin Membery – Sidley Austin LLP; Fatema Orjela – Sidley Austin LLP; James Phythian-Adams – Sidley Austin LLP; Hannie Syeda – Sidley Austin LLP; Murray Cox – Slaughter and May; Emily Hunter – Slaughter and May; Mike Lane – Slaughter and May; Azadeh Nassiri – Slaughter and May; Jan Putnis – Slaughter and May; Wallis Rushforth – Slaughter and May; David Shone – Slaughter and May; Peixin Truong – Slaughter and May;

Law Firms: Sidley Austin LLP; Slaughter and May;

Clients: Convex Group Limited; GIC Private Limited;

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Author: Ambrogio Visconti