Houlihan Lokey Advises GCP Capital Partners

Transaction: Gcp Capital Partners -  Alkeme

Houlihan Lokey is pleased to have advised GCP Capital Partners (GCP) on the successful closing of a single-asset continuation vehicle to support the growth of Alkeme Insurance Services, LLC (Alkeme). The transaction closed on June 11, 2025.

The newly formed continuation vehicle provides an attractive liquidity option for investors in GCP Fund IV and GCP Fund V, as well as other shareholders, and gives GCP the opportunity to participate in the company’s next phase of growth. The continuation vehicle includes significant unfunded capital commitments that will be drawn to support the company’s robust M&A strategy. Apollo’s Sponsor and Secondary Solutions Business acted as the lead investor in the transaction, with several global institutional investors comprising the remainder of the syndicate.

Alkeme is a retail insurance brokerage platform that provides specialty insurance services to a large variety of commercial accounts across property and casualty, personal, and benefits. Alkeme has a strong track record of M&A and is the partner of choice for high-growth agency owner/operators with a stronger focus on operational support and maintaining an agency’s local identity and culture, a different approach from other industry “consolidators.” Alkeme will continue its acquisition strategy focused on these brokerages, seeking the benefits of becoming part of a larger, more cohesive platform.

GCP was formed in 2009 as the successor to Greenhill Capital Partners, the merchant banking business of Greenhill & Co., Inc. (NYSE:GHL). GCP generally makes control or influential minority investments of $10 to $50 million within the tech-enabled business services and financial services/technology industries and has invested approximately $1.5 billion across five funds and approximately 70 total investments, generating realized proceeds of approximately $3.5 billion.

Houlihan Lokey served as financial advisor to GCP.

This transaction highlights Houlihan Lokey’s ability to provide a comprehensive suite of secondary market solutions to financial sponsors, including single and multi-asset continuation funds, strip sales, LP tender processes, and other liquidity solutions, and help financial sponsors to raise capital from a diverse group of global limited partners.

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