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Funds managed by BlackRock Equity buy Pamplona Capital's stake in Cofense

Funds managed by BlackRock Pvt. Equity Partners increased their interest in Cofense Inc. by acquiring Pamplona Capital Management LLP's stake in the cybersecurity company.

Financial terms of the transaction were not disclosed. Pamplona bought Cofense in 2018 with BlackRock Equity Partners and other investors in a $400 million transaction.

Earlier this year, Pamplona was prompted to divest its stake in the company after national security concerns were raised by the U.S. Committee on Foreign Investment. The concerns were regarding foreign investors in Cofense, including Russian billionaire Mikhail Fridman, among a group of businessmen who are purportedly part of Russian leader Vladimir Putin's inner circle.

BlackRock Equity Partners is a portfolio company of private equity firm BlackRock Inc.