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EPIC, JenCap gets new venture capital owner



New York-based venture capital firm Harvest Partners LP takes a majority stake in Galway Insurance Holdings LLC, the holding company for retail broker EPIC Insurance Brokers & Consultants and wholesaler JenCap Holdings LLC.

Galway's existing private equity owners Oak Hill Capital Partners and The Carlyle Group, both based in New York, will remain investors in the company, Galway said in a statement.

Galway was formed earlier this year by Oak Hill and Carlyle. Oak Hill acquired San Francisco-based EPIC 2017 and Carlyle acquired a majority stake in JenCap 2016.

“This recapitalization gives us the opportunity to be opportunistic in today's market; to grow and expand each of Galway's related special strategies, ”said John Hahn, President of Galway, in a statement.

EPIC is the 1

5th largest US business broker with approximately $ 736 million in brokerage revenue and JenCap is the eighth largest wholesaler with $ 100 million in revenue and $ 1.12 billion in premium volume, according to Business Insurance 's latest ranking.

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