Mexican Fintech Klar Raises $190 Million at $800 Million Valuation
Klar has positioned itself as an alternative to legacy institutions by offering lower-cost, app-based financial products to a broad swath of Mexican consumers and small businesses.
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Fox News
5 minutes ago
- Fox News
Daniel Suarez won't return to Trackhouse Racing in 2026
Daniel Suarez won't return to Trackhouse Racing next season, making him the most notable free agent looking for a 2026 ride. Suarez and the team made the announcement Tuesday afternoon. There was no announcement of a replacement, but Trackhouse development driver Connor Zilisch is expected to replace Suarez. Zilisch is fifth in the Xfinity Series standings with two victories driving for JR Motorsports. "Just like the seasons in a year, sometimes things change and we have agreed to each go in our own direction," Suarez said in a social media post. [Related: 2025 NASCAR preseason prospect rankings: Where does Connor Zilisch land?] The 33-year-old Suarez sits 29th in the series standings. The only Mexican-born driver to win a Cup race and the only one to win a national series title (2016 Xfinity Series), Suarez has two career victories in 305 Cup starts. The original driver for Trackhouse Racing in 2021, Suarez's five-year tenure with the organization has been the longest of his Cup career. He spent two years at Joe Gibbs Racing, one year at Stewart-Haas Racing and one year at Gaunt Brothers Racing before being signed by Trackhouse. It was with Trackhouse where he earned his two wins, one at Sonoma in 2022 and then another in Atlanta in 2024. "The role Daniel has played in the Trackhouse origin story and its first five years will remain a valued part of the company's history forever," team owner Justin Marks said in a statement. "His commitment, work ethic and dedication to the effort is one of the most impressive things I personally have seen in my career." Where will Suarez land for next season is now the big question. Few organizations appear to have openings on their rosters for 2026. Legacy Motor Club wants to expand to three cars for next year but is embroiled in a legal battle with Rick Ware Racing over a contract to purchase one of the RWR charters. RWR contends the $45 million deal was supposed to be for a purchase after the 2026 season, while Legacy contends it was for after the 2025 season. Amid the litigation, former Spire co-owner TJ Puchyr has said he will purchase RWR after this season and wants to operate both of the RWR charters after 2026 (one of the charters is under contract to be leased to RFK Racing for 2025). If Legacy does expand, Suarez would be a top candidate as he still has a strong relationship with Toyota. Suarez has 23 top-5s and 71 top-10s in his Cup career. He has made the playoffs twice with his best finish 10th in the standings in 2022. If there are no good Cup rides available, Suarez possibly could go to JR Motorsports — he won an Xfinity race for the organization this year at Mexico — or another strong organization in Xfinity or trucks. Bob Pockrass covers NASCAR and INDYCAR for FOX Sports. He has spent decades covering motorsports, including over 30 Daytona 500s, with stints at ESPN, Sporting News, NASCAR Scene magazine and The (Daytona Beach) News-Journal. Follow him on Twitter @bobpockrass.
Business Wire
15 minutes ago
- Business Wire
Chariot Re Launches with Co-Sponsorship by MetLife and General Atlantic
NEW YORK--(BUSINESS WIRE)--MetLife, Inc., General Atlantic, and Chariot Reinsurance, Ltd. (Chariot Re), an independent Bermuda-based Class E life and annuity reinsurance company, today announced the completion of Chariot Re's initial reinsurance transaction with a subsidiary of MetLife. Chariot Re will reinsure approximately $10 billion of liabilities, including structured settlement annuity contracts and group annuity contracts associated with pension risk transfers originated by MetLife. Chariot Re provides a unique platform positioned to reshape the life and annuity reinsurance market. The company is co-sponsored by MetLife and General Atlantic with backing from lead investor Chubb and other investors. MetLife Investment Management and General Atlantic serve as Chariot Re's exclusive external asset managers, providing a differentiated investment model that combines scale, specialization, and a long-term perspective. Cynthia Smith, a 30-year insurance veteran who most recently led MetLife's Group Benefits Regional Business, serves as Chief Executive Officer of Chariot Re. She is supported by a leadership team with deep operational and strategic expertise across insurance and reinsurance. Ms. Smith commented: 'We are launching Chariot Re from a position of strength with high-quality liabilities, a seasoned leadership team, and strong sponsors and investors, in order to meet the growing demand for life and annuity reinsurance solutions around the world.' Michel Khalaf, President and Chief Executive Officer of MetLife, said: 'This transaction with co-sponsor General Atlantic represents a significant step in establishing Chariot Re as a premier global provider of innovative reinsurance solutions. For MetLife, our strategic partnership with Chariot Re supports growth in our diversified retirement platform and asset management business, two key priorities of our New Frontier strategy.' Bill Ford, Chairman and Chief Executive Officer of General Atlantic, said: 'Together with MetLife, one of the leading and largest global insurance companies, we are committed to supporting Chariot Re as it delivers high-quality reinsurance solutions, with a focus on long-term value creation, underpinned by disciplined growth and thoughtful risk management.' Chariot Re's Board of Directors brings extensive experience and insights from across the global insurance and asset management industries, providing strong strategic direction and governance. The Board includes current and former senior executives from MetLife, General Atlantic, Chubb, and other leading organizations. MetLife's ongoing commitment to its policyholders will remain unchanged following the transaction and MetLife will continue to be responsible for all customer-related functions. About Chariot Re Chariot Reinsurance, Ltd. (Chariot Re), is an independent Bermuda-based Class E life and annuity reinsurance company. Co-sponsored by MetLife and General Atlantic with backing from Chubb and other investors, Chariot Re's unique platform leverages MetLife's global liability origination capabilities and the asset management expertise of MetLife Investment Management and General Atlantic to deliver differentiated solutions that combine scale, specialization, and a long-term perspective. For more information, visit About MetLife MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ('MetLife'), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Asia, Latin America, Europe and the Middle East. For more information, visit About MetLife Investment Management MetLife Investment Management, the institutional asset management business of MetLife, Inc., is a global public fixed income, small and small-mid cap equities, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of March 31, 2025, had $616.9 billion in total assets under management. For more information, see the total assets under management fact sheet for the quarter ended March 31, 2025, available on MetLife's Investor Relations webpage ( About General Atlantic General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 830 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Infrastructure strategies. General Atlantic manages approximately $108 billion in assets under management, inclusive of all strategies, as of March 31, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: MetLife Forward-Looking Statements The forward-looking statements in this news release, which use terms such as 'growth,' and 'will,' are based on assumptions and expectations that involve risks and uncertainties, including the 'Risk Factors' MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife, Inc.'s results could differ materially from those it expresses or implies in forward-looking statements. MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if MetLife, Inc. later becomes aware that such statement is not likely to be achieved.
TechCrunch
31 minutes ago
- TechCrunch
Catalio Capital closes over $400M Fund IV
In Brief Venture capital firm Catalio Capital Management announced today the closing of its more than $400 million Fund IV, as first reported by Bloomberg. The fund will continue the firm's thesis of backing healthcare and biotechnology companies. The firm was founded in 2020 and has made more than 100 investments, according to Pitchbook. Catalio's Fund IV, in particular, has backed 16 companies already, including the diagnostics company PinkDX and the drug discovery company Superluminal Medicines. The firm previously raised a $381 million Fund III in 2020 and a $100 million Fund II in 2019, per Pitchbook. The biotech market, in particular, has not been immune to the venture downturn of the past year, followed by higher interest rates and a cooler IPO market. The market overall raised just $12 billion last year, a sharp decline from its peak of $152.3 billion in 2023, as reported by Bloomberg.
