Ambac Financial completed the acquisition of a 60% stake in Beat Capital Partners for $282m.

Ambac Financial, an insurance holding company, completed the acquisition of a 60% stake in Beat Capital Partners, a private equity firm, for $282m. “We are excited to complete this transaction, which materially scales our insurance distribution business and strengthens our position as a premier destination for MGAs. With its strong reputation, proven leadership team and the expertise of its MGA CEOs, Beat will be an important asset to our organization as we continue to execute our specialty P&C strategy and drive long-term growth and value creation for our shareholders,” Claude LeBlanc, Ambac President and CEO.