Cannae Announces Wind-down Of Trasimene Management Agreement - Quick Facts

(RTTNews) - Cannae Holdings, Inc. (CNNE) announced that the company has agreed to wind down its Management Services Agreement with Trasimene Capital Management, LLC. Effective July 2, 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, and no fees thereafter.

Trasimene will not receive any incremental management fees or carried interest on investments made by Cannae Holdings on or after February 26, 2024. Beginning July 2, 2024, Trasimene will not receive any management fees or carried interest on any of the company's investments.