BlackRock Alternatives buys insurance claims management company Alacrity Solutions Group

• Alacrity Solutions is BlackRock LTPC’s seventh investment to date and its fifth investment in North America
• BofA Securities acted as financial advisor to BlackRock LTPC while Evercore and Waller Helms Advisors acted as financial advisors to Alacrity Solutions and Kohlberg
• BlackRock manages $318 billion in alternative investments and commitments on behalf of clients worldwide as of December 31, 2022

BlackRock Alternatives has acquired a majority stake in Fishers, Indiana-based Alacrity Solutions Group, a provider of insurance claims management services in North America. No financial terms were disclosed.

Alacrity’s prior majority investor, Kohlberg & Company, and management team will retain a significant minority interest in the company.

On the deal, André Bourbonnais, global head of BlackRock Long Term Private Capital, said in a statement, “Alacrity Solutions has established itself as a differentiated market leader in the fast-growing outsourced claims solutions space, with long-tenured customer relationships and an impressive history of growth. As long-term investors in the financial and business services sectors, we believe the company has significant growth potential and are excited to partner with Jim and the Alacrity Solutions’ management team, alongside Kohlberg, to sustain the company’s strong momentum.”

Alacrity Solutions is BlackRock LTPC’s seventh investment to date and its fifth investment in North America.

BofA Securities acted as financial advisor to BlackRock LTPC while Simpson Thacher & Bartlett LLP acted as legal advisor. Evercore and Waller Helms Advisors acted as financial advisors to Alacrity Solutions and Kohlberg and Ropes & Gray acted as legal advisor.

BlackRock manages $318 billion in alternative investments and commitments on behalf of clients worldwide as of December 31, 2022.

Based in Mount Kisco, New York, Kohlberg is led by Sam Frieder and Gordon Woodward.