D.E. Shaw-Backed Insurer Raises $231 Million

Dec 15 2014 | 11:38am ET

James River Group holdings, the insurer backed by D.E. Shaw & Co., raised $231 million in an initial public offering on Friday.

The hedge fund and James River minority investor Goldman Sachs were the only beneficiaries of the share sale, which reduced D.E. Shaw’s stake to about half of the company. Goldman’s stake falls to about 7%.

D.E. Shaw bought James River for $560 million in 2007. The company is now listed on the Nasdaq Stock Market.


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