Bermuda-based bond insurer American Capital Access Ltd has withdrawn its $125 million initial public offering after receiving a private investment of $120 million.

American Capital CA said it ?no longer has a current need to raise additional capital in the public markets? as a result.

American Capital said on Thursday that Bear Stearns would invest up to $120 million of equity capital in its ACA Holdings unit in a private placement. American Capital had planned to trade on the NYSE under the ticker symbol ?ACA? in an IPO with underwriter JP Morgan.