Blackstone, Goldman Lead Private Debt Deal for Sapiens Buyout

Blackstone Inc. and Goldman Sachs Group Inc.’s asset management arm are leading a nearly $1 billion private debt deal to help fund Advent International’s acquisition of Israeli software provider Sapiens International Corp., according to a person with knowledge of the matter, who asked not to be identified discussing private information.

Advent announced this week it was acquiring Sapiens, which provides software to the insurance industry, in a deal valued at about $2.5 billion. In a statement announcing the deal, which is expected to close by early next year, Advent said it had arranged committed debt and equity financing.