Cannae Holdings, Inc. Announces Agreement to Wind Down Management Services Agreement
Cannae Holdings, Inc. (CNNE)
Last cannae holdings, inc. earnings: 11/12 06:25 am
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cannaeholdings.com
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Source: Business Wire
~ Further Aligns Management with Shareholders ~ LAS VEGAS--(BUSINESS WIRE)--Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae” or the “Company”) today announced that the Company has agreed to wind down its Management Services Agreement (“MSA”) with Trasimene Capital Management, LLC (“Trasimene”).Effective July 2, 2024, the MSA will be amended and restated to provide that Trasimene will receive a fixed management fee of $7.6 million for each of the following three years, and a $20 million termination fee, payable in three annual installments commencing on July 2, 2024, and no fees thereafter. As a result, Trasimene will not receive any incremental management fees or carried interest on investments made by the Company on or after February 26, 2024, and beginning July 2, 2024, Trasimene will not receive any management fees or carried interest on any of the Company’s investments, other than the arrangements described above.William P. Foley, II will serve as the Chief Executive Officer, Chief
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CNNE
Earnings
- 2/21/24 - Miss
CNNE
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- CNNE's page on the SEC website