Financial services provider Reliance Capital Management has secured funding from investors including reinsurer PartnerRe.
Reliance Capital Management, an Indonesia-based integrated financial services group, has raised IDR 562bn ($45m) from a consortium including Bermuda-based reinsurer PartnerRe.
Partnerre was joined in the round by FMO, the development bank partly owned by the Dutch government, and private equity firm Leapfrog Investments. The investment has been structured to give the investors a “significant minority stake in the business”.
Anton Budidjaja, president, of Reliance, said: “This investment is a vote of confidence in Reliance’s strategy, and also in the…
