Ropes & Gray Represents Tiptree and The Fortegra Group in an Investment from Warburg Pincus
Ropes & Gray advised Tiptree Inc. in a $200 million investment in its insurance subsidiary The Fortegra Group from Warburg Pincus. The investment will give Warburg Pincus an approximate 24% ownership in Fortegra on a fully diluted basis and is expected to close in the first quarter of 2022. The transaction was announced on Oct. 12. The press release is here.
Tiptree is a publicly-traded holding company that allocates capital across a broad spectrum of businesses, assets and other investments. The Fortegra Group is a global specialty insurer.
The Ropes & Gray team that advised Tiptree was led by mergers & acquisitions partners Michael Littenberg (New York) and William Michener (Boston), and included tax partners David Saltzman and Pamela Glazier (both of Boston), employment, executive compensation & benefits partner Renata Ferrari (Boston), litigation & enforcement counsel Deidre Johnson (Boston), mergers & acquisitions associates Daniel Lim and Anna Sandiford (both of New York) and Daniel Wilson (Boston), and benefits consultant Jonathan Conon (New York).