CAC Specialty, the specialty insurance brokerage and investment banking platform recently established by Cobbs Allen, has announced the formation of a strategic relationship with funds managed by affiliates of Fortress Investment Group LLC.
The partnership with Fortress, which previously provided financing for the formation of CAC Specialty, will support the capital needs of clients in connection with acquisitions, recapitalizations, growth capital and other bespoke financing transactions.
The financing and strategic relationship with Fortress was led by Jack Leventhal and Vince Mutolo, both Senior Managing Directors with CAC Specialty.
“Our relationship with Fortress enables us to provide capital to our sponsor and corporate clients, demonstrating the value that an integrated insurance brokerage and investment banking platform can provide,” said Leventhal.
“Now, with the addition of our private financing product, no other firm can match CAC Specialty’s breadth of risk placement and direct financing capabilities.”
Leventhal and Mutolo are part of Teneo’s Capital Advisory business, which maintains a strategic relationship with CAC Specialty. Together, Leventhal and Mutolo will lead the private financing business on behalf of the firm.
Brian Stewart, Managing Director with Fortress, also commented: “CAC Specialty has brought together an impressive group of market-leading professionals with deep relationships and significant product expertise.”
“We believe this strategic relationship will enhance our ability to deploy capital to financial sponsor portfolio companies and corporates.”
