BellTower Takes Minority Stake in Canada Pension-owned Bermuda Insurer

BellTower Partners announced the closing of a minority investment in Bermuda-based Ascot Group to expand the global specialty insurer’s resources and support its strategic plans.

The New York-based private holding company said it increased its private financing of Ascot, which is majority owned by the Canada Pension Plan Investment Board, due to strong investor demand. CPP Investments will maintain its “significant” majority stake in Ascot after the deal closes.

At that time, BellTower Founder and CEO Kewsong Lee will assume the position of chairman of Ascot’s board, succeeding Neill Currie who will continue to serve as independent director.

Source: https://www.businesswire.com/news/home/20241113145326/en/BellTower-Partners-Closes-Private-Investment-in-Ascot-Group-to-Support-Growth