Ropes & Gray represented Dragoneer Investment Group as part of a consortium in an agreement to acquire Steadfast Group (SDF.AX), Australia’s largest general insurance broker network, for AUD$7.7 billion (US$5.52 billion).
The consortium includes Dragoneer, its portfolio company Amwins Group, and KKR. Following the acquisition, Amwins will acquire Steadfast’s underwriting agency business segment, and Dragoneer and KKR will retain ownership of Steadfast’s broking business segment. The deal was announced on Aug. 21.
The team included private equity partners Thomas Holden and Eric Issadore, IP transactions partner Emily Karlberg, and private equity partner Shona Ha.
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