CAC Specialty launches private equity unit with slew of key hires

Specialty insurance brokerage and investment banking business  CAC Specialty, a part of US risk management and insurance brokerage Cobbs Allen, has launched a new financial sponsors group (FSG) to bring together seven of its specialties.

The new team will provide insurance and capital market solutions to the private equity market.

FSG brings together seven interdisciplinary specialties: sponsor insurance, portfolio solutions, transactional insurance, structured solutions, private debt financing, special situations, and data and analytics.

Mike Rice, CAC Specialty CEO, said: “We couldn’t be more excited to launch FSG. We are fully committed to bringing together the best talent in the industry to serve our financial sponsor clients. We strive to make an impact for our clients through our ability to bring integrated insurance brokerage and investment banking disciplines to solve complicated client problems.”

David Payne, chief revenue officer, added: “Our clients are interested in risk transfer regardless of whether it is placed in traditional or alternative risk capital markets. CAC is unencumbered by legacy structures that get in the way of bringing the full paradigm of risk transfer to clients. We are transforming the industry.”

The company has also made a series of key hires to lead its financial sponsors group.

Its sponsor insurance segment will be led by Rachel Beck, who has joined CAC from JLT Specialty. Prior to that, she spent nine years at AIG and Willis.

André Eichenholtz will lead the portfolio solutions group, which is focused on providing diligence and placement services to financial sponsors as well as creating portfolio
efficiencies for their portfolio company investments. Eichenholtz has served in various leadership roles in the industry.

CAC Specialty’s transactional liability practice is led by Michael Wakefield and places representation and warranty, tax, and contingent risk insurance for private equity and corporate clients. Wakefield is joined by David Barnes, with whom he previously co-led the transactional insurance practice at McGriff insurance.

Structured solutions will continue to be led by Jack Leventhal and Bruce Denson Jr. The team creates bespoke solutions for facilitating capital efficiency and the transferring of unique and complex risks.

Furthermore, Vince Mutolo has joined CAC Specialty to lead the offering of private financing solutions to its sponsor clients. Mutolo was recently senior managing director of Teneo Capital, and previously was co-head of private placements at Bank of America Merrill Lynch.

Jason Horwitz will lead the special situations group (SSG) – focused solely on insurance solutions for the distressed and workout community.

Finally, Kamini Patel and Michelle Lam will lead the data and analytics practice from the insurance and investment banking side, respectively.

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