Secondary Buyout • Insurance

Sightway Capital Exits ISC

On March 4, 2021, private equity firm KKR invested in insurance company ISC from Sightway Capital

Investment Context
  • This is KKR’s 10th transaction in the Insurance sector.
  • This is KKR’s 159th transaction in the United States.
  • This is KKR’s 35th transaction in California.
Investment Fate
  • ISC was sold to a consortium of financial buyers in 2025.

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Investment Summary

Date March 4, 2021
Target ISC
Sector Insurance
Investor(s) KKR
Sellers(s) Sightway Capital
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley (Financial)
Lowenstein Sandler (Legal)

Target Company

ISC

Carlsbad, California, United States
ISC is a multi-line insurance distributor that builds end-to-end insurance products utilizing advanced artificial intelligence (AI) engineering and data analytics. ISC has built an end-to-end insurance platform by connecting a broad network of insurance markets and distribution channels with proprietary data analytics capabilities. ISC was founded in 2017 and is based in Carlsbad, California.
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Investor Overview 1

Investor

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


Deal Context for Investor #
Overall 376 of 503
Sector: Insurance 10 of 15
Type: Secondary Buyout 75 of 113
State: California 35 of 46
Country: United States 159 of 213
Year: 2021 8 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-03 Nordic Bioscience

Herlev, Denmark

Nordic Bioscience is an expert in the extracellular matrix (ECM) with experience in biomarker development, clinical and pre-clinical research. Fragments from the reactive stroma and ECM have been identified by the research team at Nordic Bioscience and corresponding quantification assays have been developed in parallel. Nordic Bioscience was founded in 1991 and is based in Herlev, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 Cordis

Miami Lakes, Florida, United States

Cordis is a provider of cardiovascular and endovascular medical devices. Its products are primarily used in procedures to diagnose and treat the narrowing or blockage of arteries. Cordis was founded in 1966 and is based in Miami Lakes, Florida.

Buy $1.0B

Seller Profile 1

DESCRIPTION

Sightway Capital is the private equity investment arm of hedge fund Two Sigma. Sightway Capital focuses on opportunities in the financial services sector as well as investing in real assets. Sightway Capital was established in 2017 and is based in New York City.


Deal Context for Seller #
Overall 1 of 1
Sector: Insurance 1 of 1
Type: Secondary Buyout 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 1