Houlihan Lokey Advises Portfolio Holding

Houlihan Lokey is pleased to announce that Portfolio Holding, Inc. (Portfolio), a portfolio company of Capital Z Partners, LP (Capital Z), has been acquired by Abry Partners (Abry). The transaction closed on December 2, 2019.

Founded in 1990 and based in Lake Forest, California, with operations in Dallas, Texas, Portfolio is a leading independent provider of finance and insurance products and services to automotive dealers across the country, including vehicle service contracts, GAP insurance, and ancillary products. Portfolio focuses on managing affiliated reinsurance companies for dealership owners while also administering warranty programs for other markets, including furniture care. Its top executives have specialized in reinsurance since the origination of the concept over 30 years ago. Portfolio's products and services are marketed to dealers through a nationwide network of professional independent agents and reinsurance specialists. All of Portfolio's current management team will remain in their roles leading the company and will retain significant equity ownership.

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed more than $82 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages more than $5 billion of capital across its active funds.

Capital Z is a leading global private equity firm focused exclusively on the financial services industry. Together with its predecessor funds, Capital Z has invested approximately $3 billion in over 40 transactions since 1990.

Houlihan Lokey served as the exclusive financial advisor to Portfolio and Capital Z and assisted in structuring and negotiating the transaction. The transaction highlights Houlihan Lokey's continued position as a leading advisor within the insurance and warranty industry.