Ropes & Gray Advises Genstar Capital in Investment in Newly Formed Alera Group
A cross-practice Ropes & Gray team represented Genstar Capital in its investment in Alera Group, a new national insurance brokerage and wealth management firm created from the merger of 24 independent employee benefits, property/casualty, risk management and wealth management firms. Alera Group has 20,000 clients and $158 million in annual revenues, with 750 employees in 40 offices across 15 states, and is now the 14th largest privately held insurance firm and 7th largest privately held employee benefits firm in the United States.
Terms of the transaction, which was announced Jan. 4, were not disclosed.
The Ropes & Gray team was included finance partner Michael Lee (Boston), tax partner Lee Allison (New York) and private equity associate Richard Conklin (Boston).