Alpha-Maven Private Equity Dashboard:

Top Private Equity News, Member Posts, Managed Futures Daily Indices and more!

1w ago Private Equity privateequitywire Views: 171

RPC advises Asta's management team on sale to Davies Group Submitted 09/09/2021 - 10:28am Leading international law firm RPC has advised the management team of Asta Capital Limited (Asta) on the sale of Asta to Davies Group Limited (Davies). Asta is the leading third party managing agency at Lloyd's providing a range of solutions to Lloyd's and non-Lloyd's business across the insurance life cycle, and is a key contributor to market innovations from formalisation of the syndicate framework to the development of the Lloyd's Syndicate-in-a-box framework. Davies is a leading specialist professional services and technology business serving the insurance and highly regulated markets. It recently concluded a deal for BC Partners to take a majority stake in Davies. The senior management team, including Asta Chief Executive Officer Julian Tighe and Chief Underwriting Officer Simon Norton, will remain with Asta following the sale and will invest in Davies. Julian and Simon will join Davies' Global Executive Leadership Team, and Managing Director Lorraine Harfitt and Chief Financial Officer David Hunt will join Davies' Senior Leadership Team. Tighe says: "This was a hugely important deal for Asta, Davies and our respective clients and employees. We were delighted to work with James and David, whom we have known and worked with for some time." Norton says: "We're delighted with the deal. It was important to work with advisers with a deep understanding of insurance market transactions and who are expert at looking after management teams in the market." The RPC team was led by RPC's insurance market deals lead James Mee and private equity specialist David Wallis. Mee says: "It was a great joy to work with Julian, Simon, Lorraine, David and the team on this important deal for them and everyone involved. I've known Julian, Simon and colleagues for a number of years, having been fortunate to act for Asta and for a number of their clients over the years. It has been wonderful to see their business grow. "Management advisory in the insurance market is a core and substantial part of our practice and we're immensely grateful for the trust the Asta team placed in us. Helping them achieve this milestone and their ambition is a real thrill." Like this article? Sign up to our free newsletter Related Topics Deals & Transactions Acquisitions Finance & Insurance -

Today's Private Equity Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.