Ravi Vaidya

Reynolds Pire

Todd Thomas

Antara Nag-Chaudhuri

Anthony (AJ) Peak

Anthony Peak

Dylan Burzinski

Haendel St. Juste

Matt Lichtman

Ronald Kamdem

- **AmTrust Financial Services** and **Blackstone Credit & Insurance (BXCI)** have announced a **definitive agreement** to spin off certain **Managing General Agencies (MGAs)** and fee businesses from AmTrust in the US, UK, and Continental Europe into a **new, independent company**.  **[1500217_7a1ddea9241945d8a993777fba76dc26_0]** 
- The transaction involves **seven AmTrust subsidiaries** (ANV, Risico, Collegiate, AmTrust Nordic, Arc Legal, Qualis, and Abacus) and is expected to result in the new company employing **over 700 people**.  **[1500217_7a1ddea9241945d8a993777fba76dc26_0]** 
- **Adam Karkowsky**, AmTrust's current President, will leave AmTrust to become **Chairman and CEO of the new multinational MGA platform**.  **[1500217_7a1ddea9241945d8a993777fba76dc26_0]** 
- AmTrust will enter into a **ten-year capacity agreement** with the new company, remaining the insurer for the existing insurance portfolio offered by the MGAs, and will retain a **significant stake** in the new entity.  **[1500217_7a1ddea9241945d8a993777fba76dc26_0]** **[1500217_7a1ddea9241945d8a993777fba76dc26_1]** 
- The transaction has been approved by AmTrust's board and is expected to close by **end of 2025**, subject to customary closing conditions and regulatory approvals.  **[1500217_7a1ddea9241945d8a993777fba76dc26_1]**

AmTrust Financial Services and Blackstone Credit & Insurance Announce Strategic Transaction

- AIP Realty Trust reported a **net loss of $1,229,155** for the three months ended June 30, 2025, an improvement from a loss of $1,427,343 in the same period in 2024. Concurrently, **investment property net rental income increased by 5%** to **$104,087** for Q2 2025.  **[1500217_812e0fde548e4610af1c45347eab0086_1]** **[1500217_812e0fde548e4610af1c45347eab0086_3]** 
- The Trust announced a **fifth tranche of its non-brokered private placement**, aiming to issue up to **14,000,000 Preferred Units – Series B Convertible** at **US$0.50 per unit**, targeting aggregate gross proceeds of up to **US$7,000,000**.  **[1500217_812e0fde548e4610af1c45347eab0086_1]** 
- AIP Realty Trust has engaged Desjardins Capital Markets for a best efforts fully marketed offering of approximately **US$100,000,000** in securities, with proceeds intended to support the proposed **AllTrades Transaction** and for general working capital.  **[1500217_812e0fde548e4610af1c45347eab0086_1]** **[1500217_812e0fde548e4610af1c45347eab0086_2]** 
- The proposed **AllTrades Transaction**, a business combination with 2024 ATIP, Inc. for the purchase of six industrial facilities, is anticipated to close by the **end of the third quarter 2025**.  **[1500217_812e0fde548e4610af1c45347eab0086_2]** **[1500217_812e0fde548e4610af1c45347eab0086_4]**

AIP Realty Trust Announces Second Quarter 2025 Results and Financing Initiatives

American Assets Trust (AAT)