KKR to Invest in PURE Insurance
06.19.15
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Simpson Thacher is representing Kohlberg Kravis Roberts & Co. L.P. in connection with its minority investment in Privilege Underwriters, Inc., the holding company for the PURE Group of Insurance Companies, including the member-owned Privilege Underwriters Reciprocal Exchange (PURE). The investment is being made in connection with a recapitalization of the company by Stone Point Capital, which will maintain a majority stake, KKR and the company’s management team. Headquartered in White Plains, New York, the PURE Group of Insurance Companies provide personal insurance and risk-management services to high-net-worth individuals and families.
The Simpson Thacher team includes Elizabeth Cooper, Lauren Colasacco and Lisa Zhang (M&A); Steven DeLott (Insurance); David Rubinsky, Andrew Blau and Eric Wolf (Executive Compensation and Employee Benefits); Sophie Staples (Tax); and Michael Naughton and Ellen Frye (Competition). Corporate Partner Gary Horowitz assisted.