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D.E. Shaw leads $573m acquisition of James River12/12/2007. Source: AltAssets. 
 James River Group has completed its merger with a subsidiary of Franklin Holdings (Bermuda), a holding company whose investors include entities in the D. E. Shaw group, The Goldman Sachs Group, Sunlight Capital and Lehman Brothers. The transaction has a total equity value of approximately $573m.
James River primarily owns and manages property/casualty insurance companies with the objective of consistently earning underwriting profits.
Bryan Martin, co-head of US private equity at D. E. Shaw, said, 'We believe we are investing in a great company with extraordinary management. We think our long-term perspective is ideally suited to the strategies that are being executed by the company and the talented managers at James River Insurance Company, Stonewood Insurance Company, Align Financial Group and the newly formed JRG Reinsurance Company.'
D. E. Shaw manages approximately $35bn in aggregate investment capital. The firm has offices in North America, Europe and Asia.
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