We advised Lightyear Capital on the investment and related financing arrangements

Davis Polk advised Lightyear Capital LLC on its growth investment in King Risk Partners and the related financing arrangements. Lightyear joined King Risk Partners’ investor, BHMS Investments, LP, which rolled a majority of its existing equity and invested additional capital, and King Risk Partners’ management team in its investment. Financial terms of the transaction were not disclosed.

Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, healthcare and business services. For over 20 years, Lightyear has worked closely with management and leveraged its industry expertise, network of advisers and operating resources to accelerate growth and build market-leading businesses.

King Risk Partners is a retail insurance brokerage with deep expertise in personal and commercial insurance, offering a full line of coverage solutions to over 55,000 clients. Since its founding in 1974, King has achieved strong organic and acquisitive growth, driven by its ability to acquire and integrate retail agencies at scale. King has completed over 60 acquisitions to date.

The Davis Polk corporate team included partner Michael Davis and associates Natasha Shah and Michael Allen Nakamura. Partner Robert F. Smith and associate Zachary Wells provided sponsor finance advice. Partner Ethan R. Goldman and counsel Danielle Rapaccioli provided tax advice. Partner Adam Kaminsky and associate Hao (Leo) Hu provided executive compensation advice. Partner Pritesh P. Shah provided intellectual property advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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