White Mountains’ Investment in Elementum
June 30, 2019
On June 3, 2019, White Mountains Insurance Group, Ltd. (“White Mountains”) announced that it has acquired a minority equity stake in Elementum Advisors, LLC (“Elementum”), an SEC‑registered investment advisor focused on managing investment portfolios exposed to natural catastrophe event risk. Cravath represented White Mountains in connection with the transaction.
The Cravath team included associates Nicholas Kypriotakis and Olivia Ya Huang on M&A matters; partner Christopher K. Fargo, associate Richard Bohm and foreign associate attorney Nicolaas Versteeg on tax matters; and practice area attorney Romica Singh on executive compensation and benefits matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
-
B.A., 2003, Boston CollegeHonors Program, cum laude
- New York
Education
Admitted In
Related News & Insights
Deals & Cases
October 03, 2025
White Mountains’ $1.75 Billion Sale of Bamboo to CVC
On October 3, 2025, White Mountains Insurance Group, Ltd. (“White Mountains”), a Bermuda-domiciled financial services holding company, announced that it has signed a definitive agreement to sell a controlling interest in Bamboo, a data-enabled insurance distribution platform, to funds advised by CVC Capital Partners (“CVC”) in a transaction that values Bamboo at $1.75 billion. White Mountains expects the transaction will result in a gain of approximately $310 to its book value per share and net cash proceeds of approximately $840 million. White Mountains will retain an approximately 15% fully-diluted equity stake in Bamboo post-closing, valued at $250 million based on the transaction. Cravath is representing White Mountains and Bamboo in connection with the transaction.
Deals & Cases
July 24, 2025
BroadStreet Partners Completes Strategic Investment
On July 18, 2025, BroadStreet Partners (“BroadStreet”), a leading middle-market insurance brokerage, announced the successful closing of a strategic investment by an investor group led by Ethos Capital, British Columbia Investment Management Corporation and White Mountains Insurance Group, Ltd. (“White Mountains”). Accounts advised by T. Rowe Price Investment Management, Inc. also participated. Ontario Teachers’ Pension Plan will retain a significant co control stake in BroadStreet and continue its partnership with the Ethos-led investor group. Cravath is representing White Mountains in connection with the transaction.
Deals & Cases
July 07, 2025
White Mountains’ Acquisition of a Majority Stake in Distinguished
On July 7, 2025, White Mountains Insurance Group, Ltd. (“White Mountains”), a Bermuda‑domiciled financial services holding company, announced it has entered into an agreement to acquire a majority stake in Distinguished Programs (“Distinguished”), an MGA and program administrator for special property & casualty insurance. White Mountains will acquire approximately 50% of Distinguished’s outstanding equity interests for $230 million, which will result in White Mountains holding a 51% controlling interest in Distinguished following the closing of the transaction. Cravath is representing White Mountains in connection with the transaction.
