In August 2019, Syncora Holdings Ltd. (“Syncora”) announced the signing of an agreement to sell Syncora Guarantee Inc., its wholly owned, New York financial guarantee insurance subsidiary, to Star Insurance Holdings LLC, an entity organized by GoldenTree Asset Management LP (“GoldenTree”) on behalf of GoldenTree’s managed funds and accounts, for $392.5 million in cash, subject to adjustment. The closing of the transaction remains subject to customary conditions and is expected to be completed by the end of the fourth quarter of 2019 or during the first quarter of 2020.
Duff & Phelps served as a financial advisor to the board of directors of Syncora and provided a fairness opinion in connection with the transaction.
About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC: SYCRF) is a Bermuda-domiciled holding company. Syncora Guarantee Inc. is a wholly owned subsidiary of Syncora Holdings Ltd.
About GoldenTree Asset Management LP
GoldenTree is an employee-owned, global asset management firm that specializes in opportunities across the credit universe in sectors such as high yield bonds, leveraged loans, distressed debt, structured products, emerging markets, private equity and credit-themed equities. GoldenTree was founded in 2000 and is one of the largest independent asset managers focused on global credit. GoldenTree manages over $30 billion for institutional investors including leading public and corporate pensions.
Comprehensive support throughout mergers and acquisitions and other corporate transactions.
Middle-market M&A advisory differentiated by industry expertise and superior deal execution.
Transaction Advisory Services
Seamless analytical advisory through the deal continuum, from transaction origination to closing.
Financial Sponsors Group
Dedicated coverage and access to M&A deal-flow for financial sponsors.
Private Capital Markets – Debt Advisory
Senior, subordinated and mezzanine debt and venture/private equity for a wide range of transactions.
Fairness and Solvency Opinions
Independent opinions for boards of directors and special committees.
Valuation Advisory Services
Valuation and consulting for financial reporting; federal, state and local tax; investment; and risk management purposes.
Innovative tax advisory and compliance services encompassing property tax, sales and use tax, and site selection and incentives.
Lack of Standardized ESG Reporting System Biggest Threat to Effective ESG Disclosures
Stefanie Perrella Appointed Global Head of Transfer Pricing at Duff & Phelps, A Kroll Business
Brand Power, Endorsement Potential are Primary Drivers of Professional Golfers’ Future Career Value, Duff & Phelps Study Finds
Duff & Phelps Expands UK Transaction Advisory Services Practice with Appointment of Atul Agarwal as Managing Director