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GTCR Agrees To Invest $200m In Ironshore

The investment by GTCR is expected to facilitate Ironshore’ growth strategy

GTCR, a private equity firm, has decided to invest $200 million in Ironshore, a specialty insurance company. GTCR will serve as lead investor in this financing that will involve a number of existing investors, and will collectively provide the company with around $300 million in new equity.

Kevin Kelley, CEO of Ironshore, said: “This private placement gives us additional capital to support our strategic growth plans, which have accelerated in recent months as we enter into a number of new specialty lines.”

Fox-Pitt Kelton Cochran Caronia Waller acted as exclusive financial advisor to GTCR in connection with the transaction, and Kirkland & Ellis provided legal counsel. Merrill Lynch and Aon Benfield Securities acted as exclusive financial advisors to Ironshore, whereas Dewey & LeBoeuf provided legal counsel.

The investment by GTCR would facilitate Ironshore’ growth strategy, as the company continues to expand its product offerings as a specialty insurance company.