Maven Capital Partners
In July Maven sold its stake in the independent insurance intermediary Global Risk Partners (GRP) to Searchlight Capital Partners. Maven first invested in GRP in late 2013, participating in the £55 million investment led by Penta Capital, to support a buy and build strategy targeting the global specialty insurance and reinsurance markets.
Over the period of Maven's investment the business expanded rapidly, acquiring brokers, Managing General Agents, portfolios and teams which had niche, non-commoditised, specialty business and strong profitability. In just over six years GRP completed 59 acquisitions and has grown to become the UK’s second largest independent insurance intermediary, with gross written premium of almost £800 million.