GIC & Atlas Merchant bought 25% stake in Ascensus.

Singapore's GIC teamed up with Atlas Merchant Capital to acquire just under a 25% stake in Ascensus, the largest independent retirement and college savings services provider in the US from Genstar Capital and Aquiline Capital Partners. Financial terms were not disclosed. The sellers will continue to maintain control over the company. The transaction is expected to close in the first quarter, following regulatory approvals and other customary closing conditions. "We're extremely pleased that the Atlas investor group has chosen to invest in Ascensus," said Bob Guillocheau, chairman and chief executive officer of Ascensus. "We're also grateful to have the continued support of our owners Aquiline and Genstar as we continue to focus on delivering exceptional service to our clients and boost our future growth."