PENNCORP FINANCIAL GROUP

Investment Date: August 1990

PennCorp Financial Group was a life insurance holding company that is now a part of Swiss Re.

DJS/Inverness contracted to acquire PennCorp Financial Group from Primerica during the difficult financing climate of 1989-1990. Wand facilitated the acquisition by leading the subordinated debt issuance and was a co-investor in the equity.

PennCorp completed a successful IPO in October 1994, and Wand exited its investment in the context of the public offering.