Houlihan Lokey Advises Winged Keel Group
Houlihan Lokey is pleased to announce that Winged Keel Group (Winged Keel), an independent life insurance brokerage firm specializing in intergenerational wealth accumulation and estate planning strategies, has agreed to a strategic investment from GTCR. The investment is expected to close in early 2025.
For more than 35 years, Winged Keel has been a highly respected and singularly focused life insurance brokerage firm. The firm has extensive experience structuring, implementing, and servicing large life insurance portfolios designed to help individual and institutional clients achieve their wealth accumulation, estate, or retirement benefit planning goals. The firm is a thought leader in the industry, known for its consistent, reliable, and robust client service and administration infrastructure. Today, Winged Keel administers more than $105 billion of life insurance for its clients, administers over $10 billion of separate account assets inside of private placement policies, and places more than $5 billion of new life insurance each year.
As the company’s first outside investor, GTCR will become the majority stakeholder in Winged Keel, the leading provider of customized life insurance solutions and complementary investment strategies to high- and ultra-high-net-worth clients, family offices, and institutional clients. Through this investment, GTCR and Winged Keel will also enhance the support of channel partners across the wealth management industry and help drive growth by deepening those strategic partnerships.
Winged Keel’s Managing Principal, Eric Naison-Phillips, will assume the role of Chief Executive Officer as he continues to lead the strategic direction of the firm alongside key Principals, including Michael Mingolelli, Jr., Chelsea Maeda-Wiegand, and Matthew Phillips. Mr. Naison-Phillips, who joined the company in 2003, Mr. Mingolelli, Jr., Ms. Maeda-Wiegand, and Mr. Naison-Phillips are part of a multi-generational leadership team of 20 Principals across Winged Keel’s eight regional offices, who are supported by more than 100 brokerage service professionals. Winged Keel employees will remain substantial shareholders of the company.
Houlihan Lokey served as the exclusive financial advisor to Winged Keel. This transaction highlights Houlihan Lokey’s continued position as a leading advisor within the insurance distribution and wealth advisory space.
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