White Mountains Launches WM Partners
White Mountains Insurance Group has launched White Mountains Partners, a wholly-owned division that offers institutional funding to businesses, led by John J. Daly as CEO and Managing Partner.
A spokesperson said, “White Mountains Insurance Group, Ltd. [NYSE: WTM] today announced that it has launched White Mountains Partners [WM Partners], a new, wholly-owned business unit that will provide first institutional capital to family, founder, and entrepreneur-owned businesses in the essential services, light industrial, and specialty consumer sectors.
“John J. Daly, a former founding member and principal of Alleghany Capital, has joined WM Partners as CEO and Managing Partner. The business will seek to establish majority positions in companies with $10 to $50 million of EBITDA and intends to deploy up to $500 million of equity capital over time.”
Manning Rountree, White Mountains’ Chief Executive Officer, said, “We are pleased to launch WM Partners, which will extend White Mountains’ long-term, value-oriented approach into additional attractive sectors. We’re thrilled to have a high caliber leader like John at the helm of the new business unit. John has deep experience in sourcing, executing, and managing control investments in private businesses within a public company setting.”
John J. Daly, White Mountains Partners’ CEO and Managing Partner, said, “I am excited to join White Mountains, and I am focused on building long-term value for its shareholders. At WM Partners, we will help families, founders, and entrepreneurs grow their businesses by delivering flexible capital, a proven value creation playbook, and a deep understanding and abiding respect for the unique qualities of their businesses.”
