Published April 1, 2010 at 2:50 PM
Warburg Pincus LLC's stake in Primerica Inc. (NYSE:PRI), which stands at 28% based on about 72.7 million shares of common stock (and will be more if Warburg exercises its warrants), didn't change the life insurer's business model, but its seal of approval may have played a big role in Citigroup Inc.' s successful spin-off of the unit, said Primerica co-CEO John Addison in this video interview with The Deal on the floor of the New York Stock Exchange on Thursday, the company's initial day of trading independently. Warburg "brought an anchor investor that did a lot of due diligence on our company," said Addison. "They're very smart people and studied the company. I think it sent a signal to the market that a very strong, reputable company was wanting to bet on the future of Primerica." Watch the video below or download it on iTunes. Subscribers to The Deal Pipeline may click
here for more on Primerica's $320 million IPO. -- Mary Kathleen Flynn
Ken deRegt will retire as head of fixed income at Morgan Stanley and be replaced by Michael Heaney and Robert Rooney. For other updates launch today's Movers & shakers slideshow.
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