Partners Group to Acquire Foundation Risk Partners from Warburg Pincus
Posted on 08/09/2022
Partners Group AG, on behalf of its clients, agreed to acquire a controlling stake in Foundation Risk Partners Corporation (FRP), a specialist insurance broker in the U.S., from Warburg Pincus LLC. FRP’s management will maintain a substantial stake in the business while Warburg Pincus will retain a meaningful minority position.
Headquartered in Daytona Beach, Florida, FRP assists businesses and private individuals in navigating the complex U.S. insurance landscape. Foundation Risk Partners was formed in 2017 by Warburg Pincus. Earlier, Foundation Risk Partners acquired Fifth Third Insurance Agency from Fifth Third Bancorp.
Advisors
Partners Group was advised by Morgan Stanley & Co. LLC as its financial advisor and Ropes & Gray LLP as legal counsel. Warburg Pincus and Foundation Risk Partners were advised by Barclays, MarshBerry, Kirkland & Ellis LLP, Jamieson Corporate Finance, and Peter W. Klein, Attorney at Law.
