Ropes & Gray advised Partners Group in its agreement to acquire Foundation Risk Partners (FRP), a specialist insurance broker based in the United States, from Warburg Pincus. FRP management will hold a sizable stake in the business while Warburg Pincus will retain a minority share. Terms of the transaction were not disclosed. The transaction was announced on Aug. 9 in a press release.
Partners Group is a leading global private markets firm with $131 billion in assets under management as of June 30, 2022. FRP, which operates 139 offices across 18 US states, assists businesses and private individuals in navigating commercial insurance, employee benefits, personal insurance and risk management.
The Ropes & Gray team that represented Partners Group was led by private equity partner Bob Rivollier and senior associates Jessica Cooney and Jeremy Zucker, and included benefits partners Danna Kivell and Megan Bisk, leveraged finance partners Alexander Zeltser and Andrea Hwang, tax partner Adam Greenwood, IP transactions partner Violetta Kokolus, and litigation & enforcement partner Sean Seelinger.
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