NAIC and Lockton Partnership to Provide Diverse-Owned Private Equity Firms with Industry-Leading Risk and Transaction Services

KANSAS CITY and WASHINGTON D.C., October 11, 2021 – Lockton Companies, the world’s largest privately held, independent insurance brokerage firm and leading provider of risk management, transaction advisory and other professional services, and the National Association of Investment Companies (NAIC) jointly announced a strategic partnership in which diverse-owned alternative investment firms will gain access to Lockton’s market-leading, comprehensive suite of risk management, transaction liability and other professional services.

Through this partnership, NAIC’s more than 135 members, which collectively manage over $250 billion in assets, will gain access to Lockton’s considerable expertise in mergers and acquisitions, representations and warranties insurance, tax liability insurance and other contingent liability insurance solutions. NAIC member firms are engaged in the full spectrum of alternative investment strategies and routinely structure innovative and increasingly complex transactions, making them a perfect fit for Lockton’s extensive range of professional services.

Lockton’s commitment to diversity, equity and inclusion in the industry is demonstrated by its strategic alliance with Birwood Services Group, a Detroit-based certified diverse-owned insurance brokerage. It makes them an ideal partner for the largest network of diverse-owned alternative asset management firms.

“We are excited to announce that NAIC member firms will greatly benefit from Lockton’s vast expertise and wide array of industry-leading risk mitigation capabilities and professional services,” said Robert L. Greene, NAIC’s President and CEO. “With diverse managers engaged in more sophisticated deal structures and transactions, Lockton’s capabilities will be an invaluable resource for them.”

“We are thrilled to announce our strategic partnership with the NAIC,” said Joe Agnello, Chief Executive Officer of Lockton’s Founders Series. “We believe this is a perfect partnership given our depth of expertise and more importantly, our commitment to creating opportunities for people and populations that historically have been underrepresented in the financial services industry.” Agnello, along with Sherman Edwards, Managing Director at Lockton’s Founders Series, will be the exclusive contacts for the NAIC partnership.

About Lockton
Lockton is a global professional services firm with more than 8,500 Associates who advise clients on protecting their people, property and reputations. Lockton has grown to become the world’s largest privately held, independent insurance broker by helping clients achieve their business objectives.
For 13 consecutive years, Business Insurance magazine has recognized Lockton as a “Best Place to Work in Insurance.” Lockton was also named among the 2021 Best Managed Companies by Deloitte and The Wall Street Journal, a program that recognizes excellence and honors private companies for their strategy, execution, culture and financials.

About National Association of Investment Companies
Celebrating 50 years of advocacy and performance, the Washington, D.C.-based National Association of Investment Companies (www.naicpe.com) is the trade association for and largest network of diverse- and women-owned private equity firms and hedge funds. NAIC’s membership comprises more than 135 firms that collectively manage over $250 billion in institutional assets.

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