King Risk Partners: A New Chapter with Lightyear's Investment
Deal News | Apr 23, 2025 | Lightyear Capital
Lightyear Capital, a private equity firm from New York, has finalized a growth investment in King Risk Partners, a rapidly expanding insurance brokerage in the US, alongside existing shareholder BHMS Investments and the company's management team. King Risk, which has completed over 60 acquisitions, specializes in personal and commercial insurance, offering extensive coverage solutions to more than 55,000 clients. With this new capital infusion, King is set to broaden its presence in new and existing markets across the Eastern US. This decision aligns with Lightyear’s strategy of investing in companies situated at the intersection of financial services, technology, healthcare, and business services. Financial advisory for King was provided by TAG Financial Institutions Group, while legal counsel was offered by Sidley Austin LLP, Davis Polk & Wardwell LLP, and Foley & Lardner LLP.
Sectors
- Private Equity
- Insurance
- Financial Services
Geography
- United States – King Risk Partners operates across the Eastern US, and both Lightyear Capital and BHMS are based in the US.
- New York – Lightyear Capital is headquartered in New York, which is a key location for the private equity firm.
- Connecticut – BHMS Investments is based in Westport, Connecticut, another significant location in this transaction.
Industry
- Private Equity – This article involves Lightyear Capital, a private equity firm, making a strategic investment in King Risk Partners.
- Insurance – King Risk Partners, the target company, operates within the insurance industry, providing personal and commercial coverage solutions.
- Financial Services – The investment aligns with Lightyear's focus on financial services, a core area of specialization for the firm.
Financials
- $7.2 billion – Assets under management by Lightyear Capital as of December 31, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lightyear Capital | Investor | Company | A New York-based private equity firm focusing on financial services and technology sectors. |
| King Risk Partners | Target | Company | A leading US retail insurance brokerage known for growth through acquisitions. |
| BHMS Investments | Existing Shareholder | Company | A private investment firm based in Connecticut focusing on North American middle-market opportunities. |
| TAG Financial Institutions Group, LLC | Financial Advisor | Company | Served as financial advisor to King Risk Partners. |
| Sidley Austin LLP | Legal Advisor | Company | Provided legal counsel to BHMS and King Risk Partners. |
| Davis Polk & Wardwell LLP | Legal Advisor | Company | Provided legal counsel to Lightyear Capital. |
| Foley & Lardner LLP | Legal Advisor | Company | Provided additional legal counsel to Lightyear Capital. |