Tiptree announces closing of strategic investment in fortegra from warburg pincus llc

New york--(business wire)--tiptree inc. (nasdaq:tipt) (“tiptree” or the “company”), today announced the closing of the previously announced $200 million strategic investment in its insurance subsidiary, the fortegra group, inc. (“fortegra”) from warburg pincus, a leading global growth investor. the investment gives warburg pincus an approximately 24% ownership in fortegra on an as-converted basis. up to $60 million of the proceeds will be used to support fortegra's growth opportunities with the
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