Partners Group, a private markets firm, agreed to acquire a majority stake in Foundation Risk Partners, a specialist insurance broker, from Warburg Pincus, a private equity firm, for $2.8bn. "FRP provides us with access to the growing insurance brokerage market in the US, which benefits from stable non-discretionary demand and favorable tailwinds. We have been tracking this market for several years and were attracted to FRP's diversified service offering and client base, as well as the transformational platform-building opportunity it represents. We look forward to working with FRP's very experienced management team on implementing the value creation plan," Joel Schwartz, Partners Group Partner, Co-Head Private Equity Services.