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Globe and Mail
18 minutes ago
- Globe and Mail
3iQ's XRPQ Passes USD 50 Million AUM Milestone
3iQ XRP ETF (TSX: XRPQ, XRPQ.U), Canada's largest XRP ETF, has surpassed USD 50 million in client assets since launch on June 18 TORONTO , July 14, 2025 /CNW/ -- 3iQ Corp. ("3iQ"), a global pioneer in digital asset investment solutions, proudly announces that after just 23 days of trading on the Toronto Stock Exchange (TSX), the 3iQ XRP ETF (Ticker: XRPQ, XRPQ.U) has crossed USD 50 million in assets under management. XRPQ launched on June 18 with a 0% management fee for the first six months, making it one of the most competitively priced digital asset ETFs on the market. The ETF is one of the first in North America providing exposure to XRP , the third largest crypto asset by market capitalization, excluding stablecoins. It invests only in long-term XRP holdings purchased from reputable digital asset trading platforms and over-the-counter counterparties. XRPQ's seed investors at launch included Ripple Labs, a provider of payment, custody, and stablecoin solutions for helping financial institutions integrate blockchain and digital assets into their businesses. "This significant milestone for our XRP ETF shows the continuing strong interest in these assets and highlights how retail and institutional investors are becoming increasingly discerning with their allocations, selecting this asset which offers a combination of the flexibility that comes with exchange traded funds, combined with the 0% management fee at launch that contrasts with the higher premiums which were the hallmark of earlier digital asset ETFs," said Pascal St-Jean , President and CEO of 3iQ . "Following on the success of our Solana Staking ETF (TSX: SOLQ), the largest Solana ETF in North America , 3iQ has maintained its lead with XRPQ." XRPQ's underlying assets are fully secured in standalone cold storage. Registered accounts in Canada are eligible to invest in the ETF, and its TSX listing makes it available to qualified investors around the globe, subject to local requirements. To learn more about the 3iQ XRP ETF (XRPQ), please visit xrp -etf. About 3iQ Digital Asset Management Founded in 2012, 3iQ is one of the world's leading alternative digital asset managers, pioneering institutional-grade investments. 3iQ launched the world's first Digital Assets Managed Account Platform (QMAP), a hedge fund investment solution, offering innovative risk-managed investment solutions to gain exposure to digital assets. 3iQ was also the first to launch a Bitcoin and Ethereum ETP listed on a major global stock exchange, integrate staking into its Ethereum and Solana ETPs boosting investor returns, and offering other regulated ETPs. In 2024, Monex Group, a leading Japanese financial group, took a majority stake in 3iQ. Since 2012, 3iQ has been at the forefront of innovation in digital asset investment management. To learn more about 3iQ, visit Media Contacts for 3iQ North America Ryan Graham JConnelly +1 862-777-4274 rgraham@ Julie Mercuro JConnelly +1 973-349-6471 jmercuro@ Europe Angus Campbell Nominis Advisory angus@ Important information Please read the prospectus before investing. Important information about the ETF is contained in the prospectus. Copies of the prospectus may be obtained from 3iQ Corp. or at This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. Commissions, trailing commissions, management fees and expenses all may be associated with ETF investments. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. This announcement should not be distributed, forwarded, transmitted or otherwise disseminated in or into the United States , including to US news wire services. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for securities in the United States or any other jurisdiction. Securities of the ETF have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or under the applicable securities laws of any state or other jurisdiction of the United States , and may not be offered, sold, resold, transferred or delivered, directly or indirectly within, into or in the United States , absent registration or an applicable exemption from, or except in a transaction not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of any relevant state or other jurisdiction of the United States . Neither this announcement, nor the fact that it has been disseminated, shall form the basis of, or be relied upon in connection with, any future information that we distribute.
National Post
19 minutes ago
- National Post
PCI Pharma Services Enters Next Phase of Growth With Strategic Investment from Bain Capital, Kohlberg, and Mubadala
Article content Article content PHILADELPHIA — PCI Pharma Services ('PCI' or the 'Company'), a world-leading global contract development and manufacturing organization (CDMO) focused on innovative biotherapies, today announced that it received a strategic investment co-led by Bain Capital and existing lead investor Kohlberg, and supported with significant reinvestment by Mubadala Investment Company ('Mubadala'). Partners Group will also continue to support the Company with a minority investment. Financial terms of the private transaction were not disclosed. Article content Headquartered in Philadelphia, Pennsylvania, PCI provides clients with integrated end-to-end drug development, manufacturing and packaging capabilities that increase their products' speed to market and opportunities for commercial success. PCI brings the proven experience that comes with more than 450 successful product launches over the last five years and over 50 years in pharmaceutical services helping bring to life innovation to improve patient access and outcomes. Article content Kohlberg and Mubadala, both of which initially invested in PCI in 2020, and Bain Capital are partnering with PCI's management team, led by Chief Executive Officer Salim Haffar, to accelerate the Company's growth trajectory, build upon its strong customer service experience, and further enable PCI clients to bring life-changing biopharmaceutical therapies to market. PCI will primarily focus on organic and inorganic growth initiatives, including expanding its suite of services and geographic reach. Leveraging global growth trends in biologics and specialized drug therapies, PCI's future investments will include expansion of existing sterile fill-finish of injectables and high potent and specialized manufacturing capacity. The strategic investment will also enable the Company's significant continued investment in the US, bolstering the nation's critical pharmaceutical manufacturing and supply chain infrastructure. Article content Haffar said: 'PCI has embarked on a purposeful journey to transform itself into a global CDMO by executing its successful growth strategy, providing industry-leading customer experience, and offering innovative and integrated supply chain solutions. I am grateful for the ongoing support of our existing investors and enthusiastically welcome Bain Capital and their deep, global healthcare and life science capabilities and expertise. Together we will grow PCI's commercial, clinical trial services, and development and manufacturing businesses to meet the future demands of our biopharmaceutical customers.' Article content Matt Jennings, Chairman of PCI and an Operating Partner of Kohlberg, commented: 'PCI's world-class management team, combined with the support of experienced industry investors, has proven to be a very successful formula. We are delighted for Bain Capital to join PCI's investor base, yielding an optimal combination aligned to support Salim and the management team to execute on their growth ambitions and value creation pathways.' Article content Devin O'Reilly Article content , Partner at Bain Capital, said: 'Anchored by an innovative, advanced platform that is consistently growing and setting new standards for the industry, PCI Pharma has built a well-deserved reputation as a differentiated partner to leading biopharma companies, ensuring critical therapies reach patients safely and efficiently. We look forward to working alongside Kohlberg to build on this strong foundation.' Article content Andrew Kaplan and Christina Dix, Partners at Bain Capital added: 'We are excited to leverage our industry expertise and the collaboration of our global healthcare team to support Salim and PCI's team of experienced industry leaders in the mission to drive innovation in advanced pharmaceutical services that improve patients' lives and outcomes.' Article content Chris Anderson, Senior Partner of Kohlberg, added: 'We are honored to have supported PCI's transformation over the last five years into a leading global CDMO, positioned in the fastest growing markets and known for its proven experience meeting critical customer needs throughout the drug development and commercialization lifecycle. We are thrilled to be partnering with Bain Capital and are aligned to make new investments that will further elevate the Company's capabilities and growth for many years to come.' Article content Mina Hamoodi, Head of Healthcare at Mubadala, said: 'Our reinvestment in PCI reflects our deep conviction in the company's mission, leadership, and long-term potential. At this important juncture, we are delighted to welcome Bain Capital, an industry-leading healthcare investor with deep expertise in growing pharma services businesses, as a partner. We look forward to partnering with Bain and Kohlberg, and working closely with PCI's outstanding management team, as the company enters its next chapter of accelerated growth.' Article content Sujit John, Managing Director, Private Equity Health & Life Vertical, Partners Group, commented: 'PCI's market position, reputation, and world-class capabilities strategically position the Company to be the partner of choice for customers. We look forward to supporting PCI and the new ownership group in driving the Company into its next phase of growth.' Article content Jefferies LLC acted as lead financial advisor to PCI and Moelis & Company LLC acted as co-advisor to PCI. Morgan Stanley & Co. LLC, and BofA Securities, Inc. acted as financial advisors to Bain Capital. Citi acted as a financial advisor to Mubadala. Article content Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as counsel to PCI and Kohlberg. Kirkland & Ellis LLP acted as counsel to Bain Capital. Skadden, Arps, Slate, Meagher & Flom LLP acted as counsel to Mubadala. Ropes & Gray LLP acted as counsel to Partners Group. Article content About PCI Pharma Services Article content PCI is a world-leading CDMO, providing clients with integrated end-to-end drug development, manufacturing and packaging capabilities that increase their products' speed to market and opportunities for commercial success. PCI brings the proven experience that comes with more than 90 successful product launches each year and over five decades in the healthcare services business. The company currently has 38 sites across seven countries (United States, Canada, United Kingdom, Ireland, Germany, Spain and Australia), and over 7,500 employees working to bring life-changing therapies to patients. Article content Leading technology and continued investment enable PCI Pharma Services to address global drug development needs throughout the entire product life cycle – from manufacturing capabilities through the clinical trial supply chain and commercialization. Its clients utilize PCI as an extension of their business, and a collaborative partner with the shared goal of improving patients' lives. For more information, visit Article content About Kohlberg Article content Founded in 1987, Kohlberg is a leading U.S. middle market private equity firm based in Mount Kisco, New York. The firm invests in high-quality healthcare and services companies characterized by strong market positions, recurring revenue streams and resilient end markets, which it identifies through rigorous thematic research grounded in its White Paper Program. Leveraging its team of investment and operating professionals, Kohlberg works with management teams to accelerate growth, enhance operational excellence and create value. For more information, please visit Article content About Bain Capital Article content Founded in 1984, Bain Capital is one of the world's leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit Follow @BainCapital on LinkedIn and X (Twitter). Article content About Mubadala Investment Company Article content Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Article content Mubadala's $330 billion (AED 1.2 trillion) portfolio spans six continents with interests in multiple sectors and asset classes. Mubadala leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates. Article content Headquartered in Abu Dhabi, Mubadala has additional offices in New York, London, Rio de Janeiro, San Francisco and Beijing. Article content About Partners Group Article content Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and over $150 billion in overall assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and its primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit Article content Article content Article content Article content Article content Contacts Article content For PCI Article content Article content Christopher Dale Article content Article content Turchette Agency Article content Article content 973-227-8080 ext. 116 Article content Article content cdale@ Article content For Kohlberg Article content Article content Amanda Shpiner/Iain Hughes Article content Article content Gasthalter & Co. Article content Article content 212-257-4170 Article content Article content media@ Article content For Bain Capital Article content Article content Charlyn Lusk/Scott Lessne Article content Article content Stanton Article content Article content 646-502-3549/646-502-3569 Article content Article content clusk@ Article content / Article content Article content For Mubadala Article content Article content Salam Kitmitto Article content Article content +971 50 276 9286 Article content Article content sakitmitto@ Article content Article content Article content
National Post
20 minutes ago
- National Post
Stone Point Capital Closes Tenth Flagship Fund with $11.5 Billion of Committed Capital
Article content GREENWICH, Conn. — Stone Point Capital LLC, a private equity firm focused on financial services and related industries, today announced the final closing of its tenth private equity fund, Trident X, with $11.5 billion in total commitments. Trident X exceeded its original target and hard cap of $9 billion and is approximately $2.5 billion larger than Trident IX, a $9 billion fund, which closed in 2022. Article content Trident X received strong support from its existing investor base, as well as first-time commitments from a number of leading institutional investors globally. General Partner and affiliated entities contributed approximately $750 million. 'We are grateful to our limited partners for their continued trust and support, and we are proud of the enduring strength of our Trident Funds over 30 years and many market cycles,' said Chuck Davis, Chairman and Co-Chief Executive Officer of Stone Point Capital. 'With Trident X, we will continue doing what we believe we do best – proactively identifying exceptional owner-operators in and around the global financial services industry and helping them build lasting value in their businesses.' Article content Jim Carey, Co-Chief Executive Officer of Stone Point Capital, added, 'We believe the consistency of our team, strategy and results continues to give us a distinct advantage in sourcing investments through our extensive network. We are excited by the opportunities we see for our tenth flagship fund and remain focused on creating value for our investors.' Article content Trident X began its investment period in May 2025 and has closed on one investment to date – Ultimus Fund Solutions, a provider of full-service fund administration services. Article content Stone Point has over 30 years of experience investing in the global financial services industry, beginning with private equity investments in insurance underwriting and expanding over time into a wide range of financial and business services sectors. Members of the senior leadership team have led operations since 1998. The Firm partners with experienced management teams and is flexible with respect to the types of transactions pursued through its Trident Funds. Stone Point has experience in standalone structured buyouts, as well as in carve-outs from larger organizations – bringing deep sector knowledge and an expansive network to every portfolio company engagement. Stone Point has invested in more than 160 companies across 10 active verticals and over 70 sub-sectors. The firm also has a credit-investing platform, Stone Point Credit, which has nearly $10 billion of assets under management. Article content Debevoise & Plimpton LLP acted as legal counsel for Stone Point in connection with the formation of Trident X. Article content About Stone Point Capital Article content Stone Point is an investment firm with more than $65 billion of assets under management across its private equity and credit platforms. Stone Point targets investments in companies in the global financial services industry and related sectors based primarily in North America and Western Europe. The firm invests in alternative asset classes, including private equity through its flagship Trident Funds and credit through commingled funds and separately managed accounts. In addition, Stone Point Capital Markets supports its firm, portfolio companies and other clients by providing dedicated financing solutions. For more information, please visit Article content Article content Article content Article content Article content Contacts Article content Media Contacts Article content Article content Prosek Partners Article content
