Blackstone-backed Alight Solutions, a cloud-based provider of integrated digital human capital and business solutions, went public via a SPAC merger with Foley Trasimene Acquisition in a $7.3bn deal. The cash component of the consideration will be funded by Foley Trasimene’s cash in trust, $300m in proceeds from the forward purchase agreements with Cannae Holdings and Thomas H. Lee, as well as a $1.55bn private placement from Cannae Holdings ($250m) and a $150 million investment from Fidelity National Title Insurance, Chicago Title Insurance and Commonwealth Land Title Insurance. Other institutional investors include Hedosophia, Suvretta Capital and Third Point. Existing Alight investors, including Blackstone, ADIA, GIC, New Mountain Capital and management, will remain the largest investors in the company. “Stephan and the leadership team have already positioned Alight as the market leader in employee benefit and business solutions and we believe there is significant opportunity to further transform the business and create value for shareholders. Through our partnership, we will leverage our proven playbook and Alight’s unique position between employees and employers to increase revenue growth and margin expansion. Alight is poised to be the preeminent employee engagement partner, and we look forward to assisting Stephan and the team in achieving this goal,” William P. Foley, II, Foley Trasimene Founder and Chairman.