Carlyle Group And Warburg Pincus To Buy DBRS - Quick Facts

(RTTNews) - Alternative asset manager The Carlyle Group (CG) and private equity firm Warburg Pincus, in partnership with a consortium of Canadian-based individual investors including DBRS' founder, Walter Schroeder and DBRS management, have agreed to acquire DBRS, the fourth largest global credit rating agency.

Terms of the transaction, which is expected to close in the first quarter of 2015, were not disclosed. Corporate headquarters will remain in Toronto.

Walter Schroeder, DBRS' founder and controlling shareholder, will remain an important investor in DBRS.

DBRS is a provider of timely credit rating opinions and related information, offering risk analysis and opinion across a broad range of financial institutions, corporate entities, government bodies and various structured finance product groups.

It currently rates more than 1,000 companies and single-purpose vehicles that issue commercial paper, term debt and preferred shares in the global capital markets.

Based in Toronto, with offices in New York, Chicago and London, DBRS serves a diverse customer base including issuers, regulators, investors and intermediaries.