Staff Report
The British Columbia Investment Management Corp. is investing in BroadStreet Partners, a North American insurance brokerage company.
The pension fund, along with Ethos Capital and White Mountains Insurance Group Ltd., will acquire a co-control ownership position in BroadStreet, according to a press release. Under the terms of the agreement, the Ontario Teachers’ Pension Plan will maintain a significant co-control stake and operate in partnership with the investor group..
“BroadStreet is a marquee insurance brokerage platform with a differentiated agency partnership strategy that drives sustainable long-term growth with entrepreneurial ‘Core Partners’ across North America,” said Derrick Estes, BCI’s senior managing director of private equity, in a press release. “BCI’s investment demonstrates our confidence in the BroadStreet strategy, their experienced management team, and the organic and inorganic growth opportunities ahead. We’re pleased to co-invest alongside our partner, Ethos Capital, and prominent insurance specialist, White Mountains, to support BroadStreet in driving future growth.”
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