Blackstone’s Tactical Opportunities Investment In Ki

Slaughter and May advised Blackstone’s Tactical Opportunities business on its investment in Ki.

Fairfax Financial Holdings Limited and funds managed by Blackstone Tactical Opportunities have committed $500m of capital to fund Ki’s expansion as it launches in Q4 2020, enabling the business to grow rapidly to significant scale.

Ki is a newly formed follow-only digital business which will write its first risk incepting in January 2021. It will underwrite using an algorithm-driven approach and offer instant follow capacity through its proprietary digital platform. Ki will write a broad range of specialty business following selected leaders in the Lloyd’s market, including Brit. The creation of Ki was first announced in May 2020. Ki will aim to significantly reduce the amount of time taken for brokers to place their follow capacity. Ki’s algorithm, developed with support from University College London, will evaluate Lloyd’s policies and automatically quote for business through an always available digital platform, built by Google Cloud and accessed directly by brokers.

Slaughter and May’s team included Harry Bacon (Picture), Partner, Matthew Langton, Associate, Christopher Koay, Associate, Robert Chaplin, Partner, Max Schofield, Associate, Usman Sawar, Associate, Gareth Miles, Partner, Sarah Osprey, Associate, Gabrielle Pereira, Associate, Jan Putnis, Partner, Srijanee Bhattacharyya, Associate, Jan Putnis, Partner, Srijanee Bhattacharyya, Associate, Padraig Cronin, Partner, Katherine Flower, Senior Counsel and Lucy Duane Associate.

Involved fees earner: Harry Bacon – Slaughter and May; Srijanee Bhattacharyya – Slaughter and May; Duncan Blaikie – Slaughter and May; Robert Chaplin – Slaughter and May; Padraig Cronin – Slaughter and May; Lucy Duane – Slaughter and May; Katherine Flower – Slaughter and May; Christopher Koay – Slaughter and May; Matthew Langton – Slaughter and May; Gareth Miles – Slaughter and May; Sarah Osprey – Slaughter and May; Daniel Owen – Slaughter and May; Gabrielle Pereira – Slaughter and May; Jan Putnis – Slaughter and May; Usman Sawar – Slaughter and May; Max Schofield – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Blackstone;