PE Deals

CVC to acquire majority stake in Dale Underwriting Partners

Dale is an independent, owner-managed underwriting business.

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  • CVC will invest in Dale via its Strategic Opportunities Fund
  • Dale, which operates through Lloyd’s Syndicate 1729, is based in London
  • CVC is a private equity firm with around €161bn of assets under management

CVC Capital Partners, via its Strategic Opportunities Fund, will acquire a majority stake in Dale Underwriting Partners, an independent, owner-managed underwriting business.

The firm will provide capital to replace the current third-party capital providers and support business growth, according to a release.

“The speciality insurance and Lloyd’s markets are attractive markets for patient capital investors like CVC funds and a focus for our financial services strategy,” said Martin Iacoponi, MD at CVC.

The transaction is expected to close in Q4 of 2023 or Q1 of 2024, subject to regulatory approvals.

Dale, which operates through Lloyd’s Syndicate 1729, is based in London.

CVC is a private equity and investment advisory firm with around €161 billion of assets under management. The firm is based in Luxembourg.

CVC were advised by Howden Tiger Capital Markets & Advisory, Aon Capital Advisory and Aon’s Strategy and Technology Group, EY, Weil, and Bryan Cave Leighton Paisner.