The AA common and preferred equity investment
Stonepeak →Stonepeak agreed in December 2023 to invest GBP450 million in The AA through common and preferred equity. The announcement valued the business at approximately GBP4 billion enterprise value. TowerBrook and Warburg Pincus remain majority shareholders; Stonepeak's precise percentage was not disclosed. The company provides roadside assistance through a nationwide British patrol and garage network, serving 14 million members at announcement, together with insurance and driving services. New capital supports deleveraging, innovation and business growth after its March 2021 take-private. Stonepeak's March 2025 review confirms completion during 2024. TowerBrook and Warburg are co-shareholder relationships in this investment, rather than evidence that they share a limited partner with Stonepeak.