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Jun 30, 2020
Cannae Holdings Q2 2020 Earnings Report
Reported operating results for the three and six-month periods ended June 30, 2020.
Key Takeaways
Cannae Holdings reported operating results for Q2 2020, successfully completing new investments while monetizing legacy investments and nurturing its core portfolio companies. The company added to its liquidity for future opportunistic investments, with holding company cash and short term investments totaling $963.2 million as of June 30, 2020.
Sold 3.7 million common shares of Ceridian HCM Holdings Inc. for gross proceeds of $238.3 million.
Committed to invest $150.0 million in Foley Trasimene Acquisition Corp. and $75.0 million in Trebia Acquisition Corp.
Announced a joint economic interest equivalent to approximately 15% of the outstanding shares of CoreLogic, Inc. and sent a letter to the Company’s Board of Directors outlining a proposal to acquire CoreLogic for $65.00 per share in cash
Participated in a $400.0 million private placement investment in D&B at the time of the IPO with Black Knight, Inc. and CC Capital Partners, LLC. Cannae’s investment was $200 million and the Company now owns 76.6 million common D&B shares valued at $1.95 billion
Forward Guidance
Cannae team remained active during the second quarter focusing on further opportunities to enhance the Company’s growth profile while in active pursuit of attractive investments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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