Private Equity Deals with Capital Allocators

TigerRisk – Chris Ackerman (Flexpoint Ford), (S3.EP.01)

Sep 6, 2023

Chris Ackerman, Managing Director at Flexpoint Ford, discusses the history and differentiation of TigerRisk as a leading reinsurance broker. They cover the impact of Covid on the deal process and lessons learned. The podcast also explores due diligence, identifying growth opportunities, considering existential risks, and unlocking new opportunities in the reinsurance industry.

41:59

Episode guests

Chris Ackerman

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Episode notes

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Quick takeaways

Middle market businesses contribute significantly to the private equity industry, employing 50 million people in the US.

FlexPoint Ford recognized Tiger Risk's unique approach, allowing for significant growth and attracting strategic buyers for a successful sale.

Deep dives

Overview of Middle Market Businesses

Middle market businesses, which generate revenue between $25 million and $1 billion, represent a significant portion of the US economy. With around 200,000 middle market businesses in the United States, employing 50 million people, they contribute significantly to the private equity industry.

Introduction

2min

Tiger Risk: A Leading Reinsurance Broker and Capital Advisory Firm

10min

Conducting Due Diligence and Identifying Opportunities

10min

Considering Existential Risk and Long-Term Prospects in the Reinsurance Business

2min

Unlocking New Opportunities

14min

Exploring Stake Rolling, Strategic Relationships, and Lessons Learned in Private Equity

4min

Chris Ackerman is a Managing Director at Flexpoint Ford, a Chicago-based private equity firm founded in 2005 that manages $7.5 billion targeting investments in the healthcare and financial services sectors.

TigerRisk is an independent reinsurance broker and capital advisory firm founded in 2008. The company was founder and employee-owned at the time of Flexpoint Ford’s investment and had grown to become the fourth-largest reinsurance broker in the world, sitting below the big three of Aon, Marsh McClennan’s Guy Carpenter, and Willis Re.

Our conversation covers the history of TigerRisk and its differentiation as a preferred alternative to the big three. We discuss Flexpoint’s sourcing of the deal, perceived investment opportunity and risk, and Covid disruption to the deal process. We turn to the business performance, culture as a competitive advantage, alignment of incentives, unexpected sale, and lessons learned.

For full show notes, visit the episode webpage here.

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