Company Overview - Onex Corporation has announced the acquisition of Integrated Specialty Coverages (ISC), a tech-enabled insurance platform, from KKR, with participation from PSP Investments, Ardian, and other institutional equity partners [1][2] - ISC is headquartered in Carlsbad, California, and is recognized as a leading multi-line program administrator focused on underwriting excellence and client service [2] - The company utilizes proprietary data analytics and sophisticated technology to enhance the underwriting and operation of complex insurance programs [2] Investment Rationale - The investment aligns with Onex Partners' long-standing focus on the insurance sector, particularly in property and casualty insurance, and emphasizes investments in founder-led businesses [3] - Onex Partners has a dedicated Financial Services team that maintains extensive industry relationships across various sub-sectors, which will support ISC's growth [3] Management Insights - Adam Cobourn, Managing Director at Onex Partners, highlighted ISC's disciplined, data-driven approach and its strong relationships with insurance carriers and brokers as key success factors [4] - Matt Grossberg, Founder and CEO of ISC, expressed enthusiasm about the partnership with Onex, noting that it will enhance ISC's ability to innovate and deliver advanced insurance solutions [4] Transaction Details - The transaction is expected to close later in 2025, pending customary closing conditions [5] - KKR will exit its investment in ISC as part of this transaction [2]