22 February 2010
Published in: Capital - models
Torus increases capital to over $1bn
Torus has announced additional equity investment of $185m to support the continued expansion of its specialty insurance and reinsurance businesses.
The additional financing, which is subject to regulatory approval and other customary conditions, will increase Torus's equity capital to over $1bn.
Corsair Capital, a New York-based private equity firm, is providing $150m of equity and the balance will come from private equity funds managed by First Reserve Corporation, the private equity firm which is Torus's founding investor and majority shareholder.