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Diversified Financial Services
FINANCE | Asset/Financial Management
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Investments

44

Portfolio Exits

27

Funds

19

Partners & Customers

7

Service Providers

2

About Brown Brothers Harriman

Brown Brothers Harriman is a privately-held financial services firm serving clients globally in three main businesses: Investor Services, Investment & Wealth Management and Banking & Advisory.

Brown Brothers Harriman Headquarter Location

140 Broadway

New York, New York, 10005-1101,

United States

212-483-1818

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Latest Brown Brothers Harriman News

Credit Suisse shares spike on reported State Street takeover interest

Jun 9, 2022

Credit Suisse shares ended up 3.8% in Zurich after jumping following the report in the Swiss financial blog. From lows hit earlier in the day, the shares were up more than 14%. The broader European stock market was down 0.7%. Reuters June 09, 2022 / 06:47 AM IST A Credit Suisse logo in a window of the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Thursday, April 8, 2021. Credit Suisse Chief Executive Officer Thomas Gottstein gathered dozens of managing directors at the global bank on a conference call late Tuesday, as part of crisis-management efforts after the lender announced that it stands to lose as much as $4.7 billion amid the meltdown of hedge fund Archegos Capital Management. Photographer: Stefan Wermuth/Bloomberg Shares in Credit Suisse turned sharply higher on Wednesday afternoon, with traders citing an Inside Paradeplatz report that U.S-based State Street is planning a takeover bid for the troubled lender, though some in the industry doubt the claim. Credit Suisse shares ended up 3.8% in Zurich after jumping following the report in the Swiss financial blog. From lows hit earlier in the day, the shares were up more than 14%. The broader European stock market was down 0.7%. The stock had dropped close to its lowest in over 20 years earlier in the session after the company warned of a likely second-quarter loss as volatility hit its investment bank. In the U.S., shares of State Street finished down 5.4% at $69.04. U.S.-listed shares of Credit Suisse closed down 1% at $6.87. Citing one unidentified source, Inside Paradeplatz said State Street would bid 9 Swiss francs a share, a premium of more than 30% to Tuesday's closing price. That would value Credit Suisse at 23 billion francs ($23.6 billion). "We are not going to respond to an earlier news report," State Street said in a statement. "As we have previously discussed, we are focused on our pending acquisition of Brown Brothers Harriman's Investors Services business." Analysts were sceptical. "I'd struggle to see why State Street would be the buyer of a global full service investment bank franchise," said Michael Brown, analyst at Keefe, Bruyette & Woods. "It extends beyond their core competency as an asset servicing and asset management firm." State Street announced last September that it had agreed to buy investment bank Brown Brothers Harriman & Co's investor services business for $3.5 billion in cash, strengthening its hand in the battle to be the world's biggest custodian bank. Jefferies analysts wrote that they saw the combination as "highly unlikely" citing State Street's pending deal to buy Brown Brothers Harriman's investor services business and the Swiss bank's legal and business challenges. A top U.S. brokerage, in a message to clients, questioned the rationale of any State Street interest for the Swiss bank, citing unclear synergies for the U.S. custodian, along with the risk of capital costs, job cuts and litigation risks. The deal speculation comes as Credit Suisse on Wednesday delivered a third consecutive quarterly profit warning. The bank has described 2022 as a "transition" year in which it is trying to turn the page on costly scandals that brought a near total reshuffle of top management and a restructuring seeking to curtail risk-taking, particularly in its investment bank. Shares have lost nearly half their value since two of the biggest shocks, the collapse of $10 billion in supply-chain finance funds linked to Greensill Capital and a more than $5 billion loss on the unwinding of trades by investment firm Archegos, hit the bank in March 2021. Those blows prompted questions over whether the flagship Swiss lender, left vulnerable by scandals, could be challenged by investors demanding its break-up, or that its shrinking stock-market value makes it a target for a foreign hostile takeover. Top-ten shareholder Artisan Partners told Reuters last month that Credit Suisse should start looking for a new CEO, the first major investor to publicly call for such a move. Separately, sources told Reuters last week that Credit Suisse is in the early stages of weighing options to bolster its capital after a string of losses eroded its financial buffers. Reuters

Brown Brothers Harriman Investments

44 Investments

Brown Brothers Harriman has made 44 investments. Their latest investment was in Martello Re as part of their Private Equity on March 3, 2022.

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Brown Brothers Harriman Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/15/2022

Private Equity

Martello Re

$1,650M

Yes

2

8/6/2021

Line of Credit - III

Auramet

$300M

Yes

1

1/9/2019

Recap

Ethos Veterinary Health

Yes

1

4/13/2015

Series C

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$99M

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10

6/23/2014

Private Equity - II

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$99M

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10

Date

3/15/2022

8/6/2021

1/9/2019

4/13/2015

6/23/2014

Round

Private Equity

Line of Credit - III

Recap

Series C

Private Equity - II

Company

Martello Re

Auramet

Ethos Veterinary Health

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Amount

$1,650M

$300M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

1

10

10

Brown Brothers Harriman Portfolio Exits

27 Portfolio Exits

Brown Brothers Harriman has 27 portfolio exits. Their latest portfolio exit was Brown Brothers Harriman - Investor Services on September 07, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/7/2021

Divestiture

Brown Brothers Harriman - Investor Services

$99M

5

8/16/2021

Acquired

$99M

4

3/2/2020

Acquired

$99M

1

7/17/2017

Acquired

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$99M

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10

2/15/2016

Acquired

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$99M

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10

Date

9/7/2021

8/16/2021

3/2/2020

7/17/2017

2/15/2016

Exit

Divestiture

Acquired

Acquired

Acquired

Acquired

Companies

Brown Brothers Harriman - Investor Services

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

5

4

1

10

10

Brown Brothers Harriman Acquisitions

11 Acquisitions

Brown Brothers Harriman acquired 11 companies. Their latest acquisition was Liguria Foods on February 22, 2008.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/22/2008

$99M

Acq - Fin

10/11/2007

Debt

$99M

$199M

Acq - Fin

4/17/2007

Other Venture Capital

$99M

Acquired

10/23/2006

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$99M

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0

8/12/2004

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$99M

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0

Date

2/22/2008

10/11/2007

4/17/2007

10/23/2006

8/12/2004

Investment Stage

Debt

Other Venture Capital

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$199M

Note

Acq - Fin

Acq - Fin

Acquired

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Sources

0

0

Brown Brothers Harriman Fund History

19 Fund Histories

Brown Brothers Harriman has 19 funds, including BBH Capital Partners VI-J-1 (Cayman).

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2020

BBH Capital Partners VI-J-1 (Cayman)

$55M

1

11/5/2020

BBH Capital Partners VI

$517.38M

1

7/21/2020

BBH Wealth Strategies Unit Trust - Oaktree Opportunities Fund XI Sub-Trust

$35.23M

1

7/21/2020

BBH Wealth Strategies - Oaktree Opportunities Fund XI Series

$99M

10

2/23/2020

BBH Wealth Strategies Unit Trust - Barings Loan Sub-Trust

$99M

10

Closing Date

12/31/2020

11/5/2020

7/21/2020

7/21/2020

2/23/2020

Fund

BBH Capital Partners VI-J-1 (Cayman)

BBH Capital Partners VI

BBH Wealth Strategies Unit Trust - Oaktree Opportunities Fund XI Sub-Trust

BBH Wealth Strategies - Oaktree Opportunities Fund XI Series

BBH Wealth Strategies Unit Trust - Barings Loan Sub-Trust

Fund Type

Status

Amount

$55M

$517.38M

$35.23M

$99M

$99M

Sources

1

1

1

10

10

Brown Brothers Harriman Partners & Customers

7 Partners and customers

Brown Brothers Harriman has 7 strategic partners and customers. Brown Brothers Harriman recently partnered with China Fund on July 7, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

7/1/2019

Client

United States

China Fund : announces changes to its Fund Administration, Fund Accounting, Custodial Services supplier and changes in the Board's Responsibilities.

NEW YORK , April 24 , 2019 - The China Fund , Inc. announced today that its Board of Directors has signed agreements covering Fund Administration , Fund Accounting , Custodial Services and Securities Lending with Brown Brothers Harriman & Co that are planned to commence on or about July 1 , 2019 , following an orderly transition from the present provider .

1

9/28/2016

Sponsored

United States

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10

6/19/2014

Client

United States

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10

7/10/2012

Client

United States

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10

7/26/2011

Vendor

United Kingdom

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10

Date

7/1/2019

9/28/2016

6/19/2014

7/10/2012

7/26/2011

Type

Client

Sponsored

Client

Client

Vendor

Business Partner

Country

United States

United States

United States

United States

United Kingdom

News Snippet

China Fund : announces changes to its Fund Administration, Fund Accounting, Custodial Services supplier and changes in the Board's Responsibilities.

NEW YORK , April 24 , 2019 - The China Fund , Inc. announced today that its Board of Directors has signed agreements covering Fund Administration , Fund Accounting , Custodial Services and Securities Lending with Brown Brothers Harriman & Co that are planned to commence on or about July 1 , 2019 , following an orderly transition from the present provider .

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Sources

1

10

10

10

10

Brown Brothers Harriman Service Providers

2 Service Providers

Brown Brothers Harriman has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

Partnership data by VentureSource

Brown Brothers Harriman Team

33 Team Members

Brown Brothers Harriman has 33 team members, including current Senior Vice President, George Bermingham.

Name

Work History

Title

Status

George Bermingham

Senior Vice President

Current

Michael Gray

Senior Vice President

Current

Nic Graybrook

Senior Vice President

Current

Jay Harrington

Senior Vice President

Current

Karen Jackson

Senior Vice President

Current

Name

George Bermingham

Michael Gray

Nic Graybrook

Jay Harrington

Karen Jackson

Work History

Title

Senior Vice President

Senior Vice President

Senior Vice President

Senior Vice President

Senior Vice President

Status

Current

Current

Current

Current

Current

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