Carlyle and Warburg Pincus to acquire credit rating agency DBRS

The Carlyle Group and Warburg Pincus have agreed to buy Toronto-based credit rating agency DBRS. No financial terms were disclosed for the transaction, which is being done in partnership with a consortium of Canadian investors.

As a result of the deal, DBRS founder and controlling shareholder Walter Schroeder will remain “an important investor” in the company.

Perella Weinberg Partners provided financial advice to DBRS while CIBC World Markets was financial advisor to Carlyle and Warburg Pincus.

DBRS, which has offices in New York, Chicago and London in addition to its Canadian home base, currently rates more than 1,000 companies in the global capital markets. Its customers include issuers, regulators, investors and intermediaries.

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