Kirkland advised leading global credit specialist Bain Capital Credit on its entry into a strategic partnership with Beat Capital Partners Ltd., a long duration investor specializing in the insurance industry. The long-term strategic partnership will create a dedicated underwriting vehicle, funded by Bain Capital, which will provide capital through Syndicate 4242 to support Beat’s underwriting businesses operating in the Lloyd’s market. In conjunction with the transaction, Bain Capital will become a significant minority investor in Beat and will join the company’s board of directors. The terms of the transaction were not disclosed.
The Kirkland team was led by transactional partners Rajab Abbassi (insurance) and Aprajita Dhundia, insurance regulatory partner Parimah Hassouri and debt finance partner Ranesh Ramanathan, with transactional partners Mark Thompson and Annette Baillie, debt finance partners Evgeny Zborovsky and Ambarish Dash, and transactional associates Cillian Moynihan and Marco Bagnato.