Specialty insurance broker CAC Specialty has announced the integration and relaunch of its private equity practice.
The restructured practice will be led by David Barnes (pictured above), with Rachel Beck promoted to executive vice president, private equity.
The new structure combines CAC’s human capital risk team, insurance diligence, and private equity team, aligning them with the firm’s financial lines, representations and warranties insurance, professional and cyber solutions, and data and analytics practices.
A major driving force behind the integration aims is the enhancement of collaboration across these specialties, CAC Specialty says.
As part of the revamp, Barnes will continue to lead CAC Specialty’s representations and warranties insurance practice. Beck, who has played a key role in expanding the firm’s private equity portfolio, will remain focused on GPL and portfolio strategies for financial sponsor clients while continuing to lead CAC Specialty’s sponsors insurance practice.
David Payne, chief revenue officer and executive sponsor of the private equity practice, said that bringing together the human capital, insurance diligence, and private equity groups will position the practice for continued growth.
CAC Specialty’s relaunch of the practice is also in line with growth projections for the segment. Private equity is projected to continue gaining traction this year, according to WTW’s Quarterly Deal Performance Monitor (QDPM).
Research from the global broker highlights a steady rise in deals valued at over $1 billion over the past year, bolstering corporate confidence as companies look to capitalize on a more stable environment.
According to WTW, consolidation in core revenue-generating sectors and the divestment of non-core assets will drive mid-market M&A activity in 2025.
The report said that a lack of high-quality M&A targets in 2024 left many corporates with substantial cash reserves, which they are now poised to deploy.
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