Risk Strategies
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In June, Insurance Insider US revealed that the ~$550mn Ebitda business is working with Evercore to bring in a new ~30% backer. -
Sources said that Evercore has been retained to run the strategic process for the ~$550mn Ebitda business.
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Heron has over 25 years of brokerage experience, mostly in real estate roles.
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Peter Fallon is retiring at year’s end after two decades with the firm.
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Drew Carnase joined Risk Strategies two years ago and will be based in Boston, focusing on scaling and optimizing the commercial lines operations.
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The companies will operate under common ownership of their private equity sponsor, Kelso & Company.
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The executive joined Risk Strategies in 2014 through the acquisition of DeWitt Stern, where she served since 2000 and held a fine arts VP role.
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This latest incremental financing is Golub Capital's 13th transaction with Risk Strategies since 2015.
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The question of how to finance the private brokers no longer begins and ends with a PE flip.
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The firm closed a ~$1bn debt facility 15 months ago to fuel its expansion plans and is working on a similar structure that will boost its war chest for the near future.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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