Milbank LLP represented a group of investors led by funds managed by Blackstone’s GSO Capital Partners and Tactical Opportunities businesses in connection with their significantly increased investment in Acrisure, LLC, a leading national and global insurance brokerage. Partners Group (on behalf of its clients) also increased their investment, and along with Harvest Partners SCF, who is also investing to support this transaction, the three investors now have invested or committed to $2 billion of preferred equity in the company. The investment implies a valuation for Acrisure of more than $7 billion and, pro forma for this transaction, Acrisure remains over 83% owned by its management team and agency partners. The Milbank team was led by Global Leveraged Finance partner Marc Hanrahan and Global Corporate partner Casey Fleck and included associates Spencer Pepper, Ben Eisenstein and Rob Rosengarten. Also providing counsel was Tax partner Russell Kestenbaum, Executive Compensation and Employee Benefits partner Mike Shah and associates James Beebe and Kelly Bartley.