State of Wisconsin Investment Board

CI Financial Reports Financial Results for the Second Quarter of 2023

Retrieved on: 
Thursday, August 10, 2023
Professional Services, Finance, Avalon, CIPC, Asset management, ETF, CI, CIIS, Woman, State of Wisconsin Investment Board, EDT, Armand Assante, Ares Management, Sale, Congress, US, Name, EBITDA, AUM, ADIA, Growth, Abu Dhabi Investment Authority, Cryptocurrency, Pharmaceutical industry, Financial services, Financial adviser

Second quarter net income was $51.0 million compared to $30.0 million in the first quarter of 2023.

Key Points: 
  • Second quarter net income was $51.0 million compared to $30.0 million in the first quarter of 2023.
  • Excluding non-operating items, adjusted net income1 was $136.0 million in the second quarter, little changed from the first quarter.
  • Second quarter total net revenues increased 21.7% to $776.1 million in the quarter from $637.8 million in the first quarter of 2023.
  • First quarter total expenses increased 13.8% to $663.6 million in the quarter from $583.0 million in the first quarter of 2023.

CI Financial Corp. Announces Completion of Debt Tender Offers and Pre-IPO Minority Investment in Its U.S. Wealth Management Business

Retrieved on: 
Wednesday, May 24, 2023
Asset Management, Professional Services, Finance, Ares Management, CI, TSX, Abu Dhabi Investment Authority, US, CIX, ADIA, State of Wisconsin Investment Board, Sale, Security (finance), Financial services

CI Financial Corp. (“CI”) (TSX: CIX) today announced that it has repurchased $234,775,000 of its outstanding 3.215% Debentures due 2024, $370,762,000 of its outstanding 3.759% Debentures due 2025 and $97,531,000 of its outstanding 3.904% Debentures due 2027 pursuant to the terms of its previously announced offers to purchase.

Key Points: 
  • CI Financial Corp. (“CI”) (TSX: CIX) today announced that it has repurchased $234,775,000 of its outstanding 3.215% Debentures due 2024, $370,762,000 of its outstanding 3.759% Debentures due 2025 and $97,531,000 of its outstanding 3.904% Debentures due 2027 pursuant to the terms of its previously announced offers to purchase.
  • CI has also closed its previously announced sale of a 20% minority investment in its U.S. wealth management business to a diversified group of leading institutional investors, including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Bain Capital, Flexpoint Ford, Ares Management funds, the State of Wisconsin, and others for approximately $1.34 billion (US$1.0 billion).

CI Financial Announces pre-IPO Minority Investment in its U.S. Wealth Management Business from Leading Global Institutional Investors

Retrieved on: 
Thursday, May 11, 2023
Banking, Asset Management, Professional Services, Finance, Slate, LLP, IPO, CIX, CI, Stikeman Elliott, State of Wisconsin Investment Board, Deleveraging, Sale, Ares Management, RBC Capital Markets, ADIA, Skadden, Arps, Slate, Meagher & Flom, TSX, Growth, Abu Dhabi Investment Authority, Security (finance)

(“CI”) (TSX: CIX) announced today that it has agreed to sell a 20% minority investment in its U.S. wealth management business (“CI US”) to a diversified group of leading institutional investors, including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Bain Capital, Flexpoint Ford, Ares Management funds, the State of Wisconsin, and others (collectively, the “Investors”).

Key Points: 
  • (“CI”) (TSX: CIX) announced today that it has agreed to sell a 20% minority investment in its U.S. wealth management business (“CI US”) to a diversified group of leading institutional investors, including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Bain Capital, Flexpoint Ford, Ares Management funds, the State of Wisconsin, and others (collectively, the “Investors”).
  • The approximately $1.34 billion (US$1.0 billion) investment is being made at a $7.1 billion enterprise value for CI US, representing 25.6x Q1’23 annualized Adjusted EBITDA of CI US1.
  • At the closing of the investment, CI will hold 80% of CI US with the Investors holding the remaining 20%.
  • Following the announcement of the submission of our IPO registration statement with respect to the U.S. business, we received significant inbound interest from leading institutional investors.

HistoSonics Announces $100 Million in Financings and New Appointment to its Board of Directors

Retrieved on: 
Tuesday, December 13, 2022
IPO, Physician, Clinical trial, Food, Patient, Sale, Science, State of Wisconsin Investment Board, Liver, FDA, US Foods, Multimedia, Safety, Signature Bank, Neoplasm, Pharmaceutical industry, Online shopping, Thomas Edison

MINNEAPOLIS, Dec. 13, 2022 /PRNewswire/ -- HistoSonics, Inc. (www.histosonics.com), the developer of a non-invasive, novel sonic beam therapy, announced today that it has raised $85 million in a financing led by Johnson & Johnson Innovation - JJDC, Inc., with participation from existing investors including Venture Investors, Lumira Ventures, Yonjin Venture, and the State of Wisconsin Investment Board, among others. Concurrently, HistoSonics also secured a commitment for a $15 million expansion of the amount available under its existing debt facility with Signature Bank, which the company may access to accelerate strategic projects. Proceeds of the financings will be used to support HistoSonics anticipated commercial launch, additional clinical trials, and to expand application development of Edison™, the company's novel histotripsy therapy platform, throughout the body.

Key Points: 
  • Concurrently, HistoSonics also secured a commitment for a $15 million expansion of the amount available under its existing debt facility with Signature Bank, which the company may access to accelerate strategic projects.
  • Proceeds of the financings will be used to support HistoSonics anticipated commercial launch, additional clinical trials, and to expand application development of Edison, the company's novel histotripsy therapy platform, throughout the body.
  • HistoSonics recently submitted safety and efficacy data from its #HOPE4LIVER Clinical Trials to the US Food and Drug Administration (FDA) and expects market authorization in 2023.
  • HistoSonics also announced today the appointment of Erica Rogers, President and CEO of Silk Road Medical, Inc., to the company's Board of Directors.

HistoSonics Announces $100 Million in Financings and New Appointment to its Board of Directors

Retrieved on: 
Tuesday, December 13, 2022
IPO, Physician, Clinical trial, Food, Patient, Sale, Science, State of Wisconsin Investment Board, Liver, FDA, US Foods, Safety, Signature Bank, Neoplasm, Pharmaceutical industry, Thomas Edison

MINNEAPOLIS, Dec. 13, 2022 /PRNewswire/ -- HistoSonics, Inc. (www.histosonics.com), the developer of a non-invasive, novel sonic beam therapy, announced today that it has raised $85 million in a financing led by Johnson & Johnson Innovation - JJDC, Inc., with participation from existing investors including Venture Investors, Lumira Ventures, Yonjin Venture, and the State of Wisconsin Investment Board, among others. Concurrently, HistoSonics also secured a commitment for a $15 million expansion of the amount available under its existing debt facility with Signature Bank, which the company may access to accelerate strategic projects. Proceeds of the financings will be used to support HistoSonics anticipated commercial launch, additional clinical trials, and to expand application development of Edison™, the company's novel histotripsy therapy platform, throughout the body.

Key Points: 
  • Concurrently, HistoSonics also secured a commitment for a $15 million expansion of the amount available under its existing debt facility with Signature Bank, which the company may access to accelerate strategic projects.
  • Proceeds of the financings will be used to support HistoSonics anticipated commercial launch, additional clinical trials, and to expand application development of Edison, the company's novel histotripsy therapy platform, throughout the body.
  • HistoSonics recently submitted safety and efficacy data from its #HOPE4LIVER Clinical Trials to the US Food and Drug Administration (FDA) and expects market authorization in 2023.
  • HistoSonics also announced today the appointment of Erica Rogers, President and CEO of Silk Road Medical, Inc., to the company's Board of Directors.

Empower Achieves $62 Billion in Organic Retirement Plan Sales During First Half Of 2022

Retrieved on: 
Friday, July 8, 2022
Personal Finance, Asset Management, Professional Services, Finance, Prudential, AUA, LinkedIn, Prudential Financial, MassMutual, Great-West Lifeco, State Road, North Carolina, Attention, JetBlue, Investment, IRA, Francis Webb (engineer), Industry, Kinder Morgan, Taft–Hartley Act, JLEN Environmental Assets Group, Partnership, Empower Retirement, LLC, Retirement, State of Wisconsin Investment Board, Name, Personal Capital, WellSpan Health, Instagram, Government, Twitter, Program, Thought, Financial adviser, Financial services, Pension fund, Empower, Facebook

Empower, the nations second largest retirement plan provider,1 has achieved $62 billion in retirement plan sales in 2022.

Key Points: 
  • Empower, the nations second largest retirement plan provider,1 has achieved $62 billion in retirement plan sales in 2022.
  • Empower has achieved significant new client mandates through its partnership with retirement plan advisors through its Advisor Managed Account offering.
  • The new sales represent an expanded footprint in the retirement plan services market for Empower which completed the acquisitions of the Mass Mutual and Prudential retirement plan businesses in December 2020 and April 2022, respectively.
  • Empower Retirement refers to the products and services offered by GWLA and its subsidiaries, MassMutual legacy business, Empower Retirement, LLC.

Former New York State Medicaid Director Jason Helgerson joins Lyfegen advisory board

Retrieved on: 
Thursday, November 11, 2021
Health, University, London School of Hygiene & Tropical Medicine, BA, American University, International economics, Public policy, Pharmacy, Leadership, Jason, Health insurance, State of Wisconsin Investment Board, London, Machine learning, CA, Medtech, Program, Hospital, Element, Public sector, City, Time, Patient, New

BASEL, Switzerland, Nov. 11, 2021 /PRNewswire/ -- Lyfegen is proud to announce that former New York State Medicaid Director, Jason Helgerson, has joined the Lyfegen Advisory Board.

Key Points: 
  • BASEL, Switzerland, Nov. 11, 2021 /PRNewswire/ -- Lyfegen is proud to announce that former New York State Medicaid Director, Jason Helgerson, has joined the Lyfegen Advisory Board.
  • Lyfegen, the provider of the leading value-based agreements platform for pharmacy, is proud to announce that Jason Helgerson has joined its advisory board.
  • During his time leading the Medicaid program in New York, Jason drove New York State's Delivery System Reform Incentive Payment program (DSRIP).
  • He has served as the Medicaid Director for both the State of Wisconsin and the State of New York.

Former New York State Medicaid Director Jason Helgerson joins Lyfegen advisory board

Retrieved on: 
Thursday, November 11, 2021
Health, University, London School of Hygiene & Tropical Medicine, BA, American University, International economics, Public policy, Pharmacy, Leadership, Jason, Health insurance, State of Wisconsin Investment Board, London, Machine learning, CA, Medtech, Program, Hospital, Element, Public sector, City, Time, Patient, New

BASEL, Switzerland, Nov. 11, 2021 /PRNewswire/ -- Lyfegen is proud to announce that former New York State Medicaid Director, Jason Helgerson, has joined the Lyfegen Advisory Board.

Key Points: 
  • BASEL, Switzerland, Nov. 11, 2021 /PRNewswire/ -- Lyfegen is proud to announce that former New York State Medicaid Director, Jason Helgerson, has joined the Lyfegen Advisory Board.
  • Lyfegen, the provider of the leading value-based agreements platform for pharmacy, is proud to announce that Jason Helgerson has joined its advisory board.
  • During his time leading the Medicaid program in New York, Jason drove New York State's Delivery System Reform Incentive Payment program (DSRIP).
  • He has served as the Medicaid Director for both the State of Wisconsin and the State of New York.

FinTech Collective Raises $250 Million, Launches Dedicated Digital Assets Strategy

Retrieved on: 
Friday, August 20, 2021
Banking, Other Professional Services, Professional Services, Finance, DRW, State of Wisconsin Investment Board, UMA, Technology, SEC, Science and technology in Asia, Warburg Pincus, Insurance, AUM, Blockchain, Investment, StepStone Group, Acceleration, Financial technology, 2019 MoneyLion 300, COVID-19, Decentralized finance, Bank, Cryptocurrency, Banking, Other Professional Services, Professional Services, Finance

FinTech Collective, a venture capital firm focused on creating the future of financial services by investing across traditional fintech and emerging digital assets, today announced fundraises for its existing early-stage strategy and for its new strategy focused on decentralized finance (DeFi).

Key Points: 
  • FinTech Collective, a venture capital firm focused on creating the future of financial services by investing across traditional fintech and emerging digital assets, today announced fundraises for its existing early-stage strategy and for its new strategy focused on decentralized finance (DeFi).
  • FinTech Collective raised a combined $250 million in capital across the two strategies, bringing the firms total assets under management (AUM) to over $500 million.
  • FinTech Collective backs entrepreneurs rewiring how money moves through the world and invests thematically and across capital markets, wealth and asset management, banking-lending-payments, and insurance.
  • FinTech Collective invests globally and has 53 companies operating in the United States, Latin America, the UK/Europe, and Africa.

Northwestern Mutual Dedicates $20 Million to Advance Black Entrepreneurs through Venture Capital & a New Startup Accelerator

Retrieved on: 
Wednesday, November 18, 2020
Finance, Entrepreneurship, Private equity, Money, Gener8tor, Economy, Startup company, Venture capital, State of Wisconsin Investment Board, Wisconsin Investment Partners

The company's venture capital fund, Northwestern Mutual Future Ventures , will dedicate $20 million to investing in startup companies founded by Black entrepreneurs.

Key Points: 
  • The company's venture capital fund, Northwestern Mutual Future Ventures , will dedicate $20 million to investing in startup companies founded by Black entrepreneurs.
  • The company will also launch the Northwestern Mutual Black Founder Accelerator powered by gener8tor, a nationally ranked startup accelerator.
  • Black founders receive less than one percent of venture capital funding annually and Northwestern Mutual and gener8tor are committed to investing in and supporting Black entrepreneurs to help close this funding gap and advance their companies.
  • The Northwestern Mutual Black Founder Accelerator powered by gener8tor is gener8tor's first accelerator exclusively focused on advancing Black founders.