RPC advises long duration insurance investor Beat Capital Partners on its Strategic Partnership with Bain Capital Credit

Law firm RPC has supported a significant insurance transaction advising long duration insurance investor Beat Capital Partners in its strategic partnership with Bain Capital Credit, a leading global credit specialist.

The deal was announced on 1 September and will close once regulatory approvals have been obtained. It will create a dedicated underwriting vehicle, funded by Bain Capital Credit, which will provide capital through Syndicate 4242 to support Beat’s underwriting businesses operating in the Lloyd’s market. Bain Capital Credit will become a significant investor in Beat and will join the board of directors.

 

This transaction is an important milestone in the progression of Beat Capital's business that positions the company for the next phase of their development in a market that offers significant opportunities for growth.

 

Beat is a long-duration investment firm exclusively focused on the insurance industry that supports world-class insurance underwriters seeking to start their own businesses. It provides high quality teams start-up funding, infrastructure, risk capital and A+ rated paper, plus experienced guidance and support.

 

John Cavanagh, Chairman of Beat Capital Partners commented “We hold RPC’s corporate and specific insurance expertise in the highest regard. It has been a pleasure to work with James, David and the rest of the RPC team on this significant transaction for Beat”

RPC corporate insurance partner James Mee said: "It was a real pleasure to work with the Beat Capital team and their advisers on this very significant partnership with Bain Capital Credit."    

 

"It is always a thrill to work with these leading individuals – some of whom we’ve known for some time – on a strategic transaction, and to help them build the partnership they want to take their business forward. It was incredibly satisfying to sign the transaction, and we look forward to the closing of the deal and seeing Beat Capital go from strength to strength."

 

"The transaction for Beat Capital falls right into our sweet spot, as we bring together our dedicated private equity and transactional insurance capability and Lloyd's market knowledge, led by individuals who have known each other for over twenty-five years."

 

"2020 has been a busy year for the team, with fifteen significant insurance market transactions, all involving a mix of established carriers, Lloyd's businesses, private equity and entrepreneurial teams."

 

"We were very pleased to work on the transaction alongside Andrew Holderness Consultancy. Andrew has been involved with Beat since its inception."

 

RPC's corporate insurance team is recognised as a market-leading advisor to participants in the Lloyd's insurance market and has been among the most active advisers in insurance and reinsurance as well as M&A in recent years. We advise established businesses, entrepreneurial business leaders and UK and non-UK investors on the full spectrum of commercial, regulatory and transactional work. RPC is a longstanding adviser to the global insurance market.

 

The RPC team was led by James Mee and David Wallis, with assistance from Chris Brierley, Ben Magahy, Rupert Wyles, Ella Shanks, Andy Price, Rob Paine, Ben Roberts and Paul Joukador.