Guggenheim Announces Singapore Firm to Invest $100 Million in Preferred Stock and Warrants
NEW YORK – Guggenheim Partners, LLC, a global diversified financial services firm, and K1 Ventures Limited, a diversified investment company, today announced a definitive agreement whereby K1 Ventures will invest $100 million in preferred stock and warrants of Guggenheim Capital. Guggenheim Capital may raise additional capital from certain other strategically located and like-minded investors.
“Guggenheim Capital is committed to expanding its presence as a global diversified financial services firm that provides fresh perspectives and innovative solutions in recognition of the evolving landscape for financial products,” said Todd Boehly, president of Guggenheim Partners. “K1 Ventures’ investment will provide strategic capital to Guggenheim to support our recent growth initiatives and facilitate further expansion plans both domestically and abroad,” Boehly continued. “We are pleased to have K1 Ventures as a strategic partner and believe our relationship will prove valuable in our various businesses’ endeavors.”
“This is a tremendous opportunity for K1 Ventures,” said Jeffrey Safchik, chief financial officer at K1 Ventures. “With its ability to attract talented people and history of successful innovation in developing diversified financial service offerings, Guggenheim is precisely the type of differentiated, profitable and high growth company in which K1 seeks to invest.”
As part of the transaction, Ambassador Steven Jay Green, chairman and chief executive officer of K1 Ventures, will become a member of Guggenheim’s executive committee. Boehly stated, “We are very pleased to have Ambassador Green join our executive committee. We are confident his experience and relationships stemming from his tenure as the U.S. ambassador to Singapore, chairman and CEO of K1 Ventures, and many other business roles, will be of great value to Guggenheim.”
Citigroup, Credit Suisse and Verus International acted as financial advisors, and Sidley Austin LLP acted as legal counsel to Guggenheim on the transaction. Willkie Farr & Gallagher LLP acted as legal counsel to K1 Ventures.
About Guggenheim Partners
Guggenheim Partners, LLC is a diversified financial services firm with more than $100 billion in assets under supervision. The firm’s businesses include investment management, investment advisory, insurance, investment banking and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe and Asia. For more information, please visit www.guggenheimpartners.com.