Investment management firm Blackstone Tactical Opportunities has acquired a significant stake in SUNZ Holdings, in order to help fund its continued expansion.
SUNZ is a provider of workers compensation insurance and related services such as policy administration, claims administration and customer support.
SUNZ has a particular focus on risk sharing programs for Professional Employer Organisations and provides insurance for companies and large organisations.
Menes Chee, a Senior Managing Director at Blackstone, said: “SUNZ is exceptionally well positioned for future growth. Blackstone is excited to partner with their first-rate management team to help the company continue to expand into new markets and verticals so it can best serve its customers.”
Steve Herrig, CEO of SUNZ, said: “This partnership should propel SUNZ to a new level by enabling us to pursue new market opportunities and expand our national footprint. We look forward to a synergistic collaboration with Blackstone and to further accelerating the expansion of our specialised programs.”
The terms of the transaction were not disclosed.