GCP Capital Partners, a leading middle-market private equity firm, has closed a single-asset continuation vehicle transaction in partnership with Apollo S3 to support the continued growth of ALKEME Insurance. ALKEME is a full-service middle-market insurance brokerage in the United States, offering comprehensive solutions spanning property and casualty commercial, employee benefits, personal, and other financial services.
The transaction, which was anchored by Apollo S3 and included support from a high-quality syndicate of institutional investors, will enable ALKEME to continue its rapid scaling. GCP will maintain control of ALKEME and remain a significant investor alongside ALKEME management. Founded in 2020 through the consolidation of several well-established brokerages in Southern California, ALKEME has grown to over 1,000 employees operating across 29 states and writing more than $1 billion in premiums annually.
Key Highlights of the Transaction
- GCP Capital Partners maintains control of ALKEME Insurance
- Apollo S3 anchors the transaction with support from institutional investors
- ALKEME operates in 29 states with over 1,000 employees
- The company writes over $1 billion in premiums annually
GCP Co-Managing Partner Boris Gutin stated, “This transaction represents an important milestone for ALKEME. It reinforces our conviction in ALKEME’s differentiated positioning and provides ample runway for continued growth.” ALKEME Founder and CEO Curtis Barton added, “ALKEME has undergone a tremendous transformation over the past five years, disrupting the insurance industry with a novel platform focused on empowering agency partners and delivering exceptional client service.”
About the Parties Involved
GCP Capital Partners
GCP is a middle-market private equity investment firm with $2.0 billion in committed capital since its formation. The firm has completed over 70 transactions since its inception in 2000 and has substantial experience in private equity investments.
ALKEME Insurance
ALKEME is a full-service insurance agency providing businesses and individuals with an extensive array of commercial and personal insurance, employee and executive benefits, retirement, and wealth management services. Since its founding in 2020, ALKEME has completed over 45 acquisitions and serves customers from over 45 locations in 29 states.
Apollo S3
S3 is Apollo’s Sponsor & Secondary Solutions business, providing flexible capital solutions to asset managers and limited partners across the risk-reward spectrum. It is a natural extension of Apollo’s global investment platform, offering partner-oriented capital across various asset classes.
