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Leading the way in insurance on secondaries transactions

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Since 2019, Howden M&A has been at the forefront of the rapid increase in the use of W&I and specific risk insurance on Secondaries transactions in Europe and RoW (outside the US).

Our market leading Secondaries team has advised on complex transaction structures to enable GPs, LPs and Lead Investors to achieve the same benefits of traditional W&I policies, but with minimal or light touch due diligence requirements, broader warranty protection and cleaner policy outcomes. We can advise on a range of transaction structures including:

  • GP-led Restructurings
  • LP interest transfers
  • Portfolio sales
  • Fund of fund transfers
  • Minority GP investments
  • Fund wrap-ups

Our team also achieves broad cover for previously uninsurable Excluded Obligation Indemnities under the same insurance policy, including on a synthetic basis.

A snapshot of our practice

> 52

W&I Policies on European and RoW secondaries (+tax and title policies)

€30bn+

in Aggregated NAV on policies placed

>100

transactions advised on

Reach out to the experts

Do not hesitate to contact our team with your enquiries.

Photo of Michael Watters

Michael Watters

Director | W&I
Photo of Michael Watters

Michael Watters

Director | W&I

Prior to joining Howden M&A, Mike worked at Mott MacDonald as a Structural Engineer. As co-head of Howden’s specialist Secondaries team, Mike advises clients on the placement of W&I insurance on both GP-led and LP-led secondaries transactions across the globe. Mike is also a key member of the team supporting PE and corporate clients on large cap, multi-jurisdictional transactions.

Email: [email protected]

Photo of Nikhil Singal

Nikhil Singal

Executive Director | W&I
Photo of Nikhil Singal

Nikhil Singal

Executive Director | W&I

Nikhil advises large PE houses and corporates on placing W&I and specific risk insurance policies on a range of transactions, including GP and LP-led secondaries. Nikhil also actively supports Howden M&A's initiatives in development of new business in emerging markets, including India. Nikhil is dual qualified in India and in UK, and holds a Masters in Corporate Law (MCL) from University of Cambridge.

Email Nikhil: [email protected]

Photo of Harry Leitch

Harry Leitch

Director | W&I
Photo of Harry Leitch

Harry Leitch

Director | W&I

Harry joined Howden from another M&A insurance broker, where he spent four years leading the team’s origination efforts in the secondaries market. He has worked on a variety of transactions, including GP-stakes and GP and LP-led secondaries across Europe, Asia and North America. As well as Secondaries, he is responsible for origination among Corporate and Financial Sponsor clients, working with them on all aspects of insurance

Email Harry: [email protected]