Cinven is a private equity firm based in London, UK. It was founded in 1977 by a group of entrepreneurs.
Cinven has a long history of investing in various sectors, including healthcare, consumer, and industrials. The firm has a strong presence in Europe and has invested in several high-profile companies.
Cinven's investment approach focuses on partnering with experienced management teams to drive growth and value creation.
Geschichte
Cinven was formed from the British pension funds of British Coal, Railway Industries, and Barclays Bank, which have remained partners of the company.
These partners were instrumental in shaping Cinven's early years and continue to play a significant role in its operations.
In 2014, Cinven partnered with Hannover Rück to establish Viridium, a joint venture based in Neu-Isenburg, focused on acquiring and managing life insurance policies from other insurance companies.
Viridium made headlines in the spring of 2023 when the Italian insurance company Eurovita, owned by Cinven, faced financial difficulties, prompting the Italian regulatory authority IVASS to impose a moratorium on the company's operations.
A consortium of leading Italian insurers, including Assicurazioni Generali, Poste Vita, Intesa Sanpaolo Vita, UnipolSAI, and Allianz SpA, eventually took over Eurovita.
This development affected the regulatory approval process for Zurich Life Legacy's takeover, which was halted by the BaFin in January 2024.
By the summer of 2024, plans for selling Viridium's shares to other run-off specialists had begun to take shape.
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