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NEW YORK - Reinsurance Group of America, Incorporated (NYSE:RGA), a prominent insurance industry player with a market capitalization of $13 billion and currently trading below its InvestingPro Fair Value, has formed a long-term partnership with FoxPath Capital Partners that includes a strategic investment and multi-fund anchor commitment, according to a press release statement issued Tuesday.
FoxPath, an independent alternative investment firm focused on credit secondaries, was founded in 2023 by Tony Colarusso, Brian Laureano, and Alexander Truss. The firm specializes in providing private market liquidity solutions across the credit landscape. RGA brings significant financial strength to this partnership, with InvestingPro data showing liquid assets exceeding short-term obligations and a strong dividend history spanning 33 consecutive years.
Under the partnership, FoxPath will continue to operate independently with discretion over its investment and operational decisions while benefiting from RGA’s financial backing. The firm plans to expand its investment team and evaluate opportunities across North America and Europe.
"We are excited to partner with RGA to further accelerate the growth of FoxPath and expand the scale of our platform," said Tony Colarusso, Managing Partner of FoxPath.
Leslie Barbi, Executive Vice President and Chief Investment Officer of RGA, stated, "We are proud to support the launch of FoxPath with our anchor investment, continuing RGA’s history of backing distinctive asset management firms."
FoxPath pursues investment opportunities in LP-led and GP-led secondaries and structured solutions. The firm aims to address what it sees as a growing need for liquidity in the private credit ecosystem.
Financial terms of the transaction were not disclosed. Piper Sandler & Co. served as financial advisor to FoxPath, while Goodwin Procter LLP advised RGA on the deal.
In other recent news, Reinsurance Group of America (RGA) reported its Q2 2025 earnings, which fell short of market expectations. The company announced an earnings per share (EPS) of $4.72, missing the anticipated $5.56, representing a -15.11% surprise. Revenue also came in lower than expected at $5.6 billion, compared to the forecasted $5.67 billion, resulting in a -1.23% surprise. Additionally, RGA disclosed a strategic investment in FoxPath Capital Partners, a New York-based credit secondaries investment firm. This investment includes a multi-fund anchor commitment to FoxPath, though financial terms were not disclosed. These developments reflect the company’s ongoing efforts to expand its investment portfolio despite recent earnings challenges.
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