Risk Strategies has announced that it has acquired Texas-based Advisor Brokerage Services (ABS), a full-service insurance brokerage and risk management consulting firm. The terms of the transaction were not disclosed.
While Risk Strategies is well-established in Texas, ABS is its first acquisition in Austin. ABS is focused on serving alternative asset management firms, and offers specialized insurance coverage for large financial institutions, hedge funds, private equity firms and family offices. The firm was founded in 2014 by principal Charles Newman.
“ABS values strong client relationships and is committed to serving the dynamic needs of institutionally backed portfolio companies, which aligns naturally with our company’s specialist approach to risk and private equity practice,” said Neil Krauter Sr., private equity practice leader for Risk Strategies. I have known and worked with Charles for over 20 years and am excited to welcome him and the Advisor Brokerage Services team to Risk Strategies.”
ABS was structured to accommodate a wide variety of accounts while also handling complex risks. Its capabilities include comprehensive insurance products for portfolio investments, support for smaller placements, private client services, internal and external diligence, and request-for-proposal consulting for portfolio companies and subsidiaries.
“As we explored elevating ABS and our clients, we looked for a partner that not only had deep technical skills, resources and market access to leverage, but also one that would maintain the entrepreneurial spirit our clients appreciate,” Newman said. “Risk Strategies uniquely matched those two desires, and we’re excited to continue to grow together.”