TPG Backs Earnix Continuation Fund in $290 Million Deal

TPG, a private equity firm, has invested in a single-asset continuation vehicle for insurance technology company Earnix Inc. This transaction, completed in partnership with Jerusalem Venture Partners (JVP), is valued at $290 million. Under the terms of the agreement, JVP will continue to manage the fund as its general partner. TPG, Insight Partners Inc., and other private investors will participate as limited partners. Following the investment, which received approval from U.S. regulatory authorities earlier this month, JVP's total stake in the continuation vehicle will exceed 54%.