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Golden Gate commits $750 mln to Nassau Reinsurance platform

Nassau Reinsurance Group said Wednesday that it has received initial capital commitments of more than $750 million from Golden Gate Capital to form an insurance and reinsurance platform. Phillip Gass, the former Chairman of Fidelity & Guaranty Life, and Kostas Cheliotis, an ex-Director and Chairman of the Compensation Committee of FGL, are leading the platform and have both invested. Gass will serve as Chairman & CEO of the platform while Cheliotis will be EVP & Chief Operating Officer.

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peHUB First Read

First Read ushers in your morning with news that Golden Gate Capital is reportedly in talks to buy Ann Taylor, Google commits $150 million to diversity and Whole Foods is planning on opening a lower-price grocery chain targeting younger shoppers.

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TowerBrook to acquire J.Jill from Arcapita and Golden Gate Capital

TowerBrook Capital Partners LP has agreed to buy fashion retailer J.Jill. The sellers are Arcapita and Golden Gate Capital. No financial terms were disclosed. The transaction is expected to be completed in the second quarter of this year. Paula Bennett will continue as president and CEO of J.Jill. Morgan Stanley and Houlihan Lokey provided financial advice to J.Jill on the deal while Macquarie Group was financial advisor to TowerBrook Capital Partners.

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peHUB First Read

First Read kicks off your week with news Intel is buying internet of things chip unit Lantiq from Golden Gate Capital, The Pirate Bay is back online and the New England Patriots are champs after the worst call in Super Bowl history.

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Golden Gate Capital taps Parkinson as operative executive

Golden Gate Capital has named Jay Parkinson as an operating executive. In his new role, Parkinson will help expand the firm’s focus on the oil and gas sector. Previously, Parkinson worked at Nuverra Environmental Solutions where he served as an executive vice president and chief financial officer.

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Golden Gate agrees to $1.2 bln acquisition of ANGUS Chemical

Golden Gate Capital has agreed to acquire ANGUS Chemical Company from The Dow Chemical Company for about $1.2 billion. ANGUS makes chemicals used to enhance products in industries like paints and coatings, life sciences, biopharmaceuticals, metalworking, personal care, water treatement and oil and gas. JPMorgan Securities is financial advisor for Golden Gate, and JPMorgan Securities, Morgan Stanley and Deutsche Bank are providing financing for the deal.

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peHUB Second Opinion

In Second Opinion, Ben & Jerry’s won’t rename its “Hazed & Confused” ice cream, Microsoft CEO Satya Nadella claims that men and women are paid equally at his company and Apple has sold a lot of iPhones.

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