TPG Backs Continuation Fund for Earnix in $290 Million Deal (1)

Private equity firm TPGhas invested in a single-asset continuation vehicle for the insurance technology company Earnix Inc.in a deal with Jerusalem Venture Partners valued at $290 million.

JVP will continue to manage the fund as its general partner, the Israeli firm’s Executive Chairman Erel Margalit, said in an interview. TPG, Insight Partners Inc. and other private investors will become limited partners. The investment, which was approved by US regulatory authorities earlier this month, will bring JVP’s overall holdings to more than 54%.

Under the agreement, JVP’s earlier investors were given the option to liquidate their holdings in ...