GI Partners’ Recapitalization of Patriot Growth Insurance Services

Kirkland & Ellis advised GI Partners on the deal.

GI Partners, a leading private investment firm, executed its recapitalization of Patriot Growth Insurance Services, LLC (“Patriot”), one of the country’s largest and fastest-growing national insurance agencies, in partnership with the company’s founder and CEO, Matt Gardner. Summit Partners, which invested in Patriot in 2019, and Patriot management will maintain significant minority ownership positions in the company.

Founded in 2001, GI Partners is a private investment firm with over 100 employees based in San Francisco, California, with offices in New York, Chicago, Greenwich, and Scottsdale. The firm has raised over $29 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. 

Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. In its second year of operation, Patriot was ranked in the top-40 largest insurance brokers in the U.S. by Business Insurance.

The Kirkland team was led by corporate partners Stuart Casillas (Picture), Vlad Kroll and Simon Root and associates Michael White and Marion Racine, and debt finance partners David Nemecek and Austin Glassman and associate Christian Rivas, and also included assistance from corporate partner Rajab Abbassi, insurance regulatory partner Parimah Hassouri and corporate associate Sandra Ghobraiel. 

Involved fees earner: Rajab Abbassi – Kirkland & Ellis; Stuart Casillas – Kirkland & Ellis; Sandra Ghobraiel – Kirkland & Ellis; Austin Glassman – Kirkland & Ellis; Parimah Hassouri – Kirkland & Ellis; Vlad Kroll – Kirkland & Ellis; David Nemecek – Kirkland & Ellis; Marion Racine – Kirkland & Ellis; Christian Rivas – Kirkland & Ellis; Simon Root – Kirkland & Ellis; Michael White – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: GI Partners;