Private Capital

Creative, tailored risk solutions for private capital clients with deep financial sponsor expertise.

Forest covered mountains

Tailored risk solutions that move at pace

Create value, not just coverage

Financial sponsors are deploying capital in complex and competitive environments with pressure to perform across the investment lifecycle. 

Howden Private Capital understands what matters to you so you’re quickly matched with thoughtful, market-leading coverage positions. 

Risks considered and positions negotiated in a transaction impact how companies operate, and how value is ultimately realized.

We help our clients to balance protection, execution risk, and transaction certainty throughout all that we do.

Unmatched expertise, leveraged to enable transactions

We start with the risk, not the policy. We take the time to understand the problem before designing solutions. We match industry experts with insurance know-how to build coverage from the ground up, so the outcome drives value and transfers risk. 

We have a strong reputation for thoughtful advice alongside market-leading execution. We pride ourselves on a culture of true collaboration, ensuring our clients benefit from our collective knowledge and deep expertise across all industry verticals.

We support our clients' ongoing risk management by providing a range of services and products across the investment lifecycle. We work with you to create valuable insurance outcomes that facilitate transactions, create liquidity, optimize balance sheets, and reduce capital constraints.

This approach makes us a broker like no other.

The Private Capital solutions we offer

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    Representations and warranties insurance

    Products designed for M&A and secondaries transactions that protect buyers and sellers against financial losses arising from breaches of representations and warranties, helping counterparties transact.

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    Insurance & benefits due diligence

    Comprehensive review of a target company’s insurance program conducted during the M&A process. Outside of the context of an M&A process, we can conduct a portfolio value audit to assess the fund’s insurance/benefits program and that fund’s investment’s insurance/benefits program.

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    Tax liability insurance

    Transfers known, but defensible, tax risks, reducing the need for indemnities in transactions and providing greater certainty at close.

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    Tax credit insurance

    Tax liability insurance can be used to enhance project financing and protect valuable ITCs and PTCs from federal and state tax authority challenges.

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    Contingent fee insurance

    Gives certainty on outcomes to portions of attorney’s contingent fee arrangements or for clients’ legal risks in connection with financing, M&A or other corporate transactions.

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    Credit risk insurance

    Credit Risk Insurance protects lenders against non-payment risk associated with different loan structures.

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    Trade credit insurance

    Trade credit insurance protects businesses against the risk of non-payment of trade receivables, often used to raise liquidity.

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    Property & casualty insurance / benefits for private capital clients and their investments

    Capable of handling all insurance needs for funds and their portfolio companies.

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    Claims advocacy & advisory

    Proactive ownership of claims on policies handled by our brokers or claims advocacy for a fee where our clients purchased insurance through other brokers but want access to our specialists.

Other industry products we can offer include:

  • End of fund life insurance: covers unknown risks relating to an investment fund in its wind-up phase, allowing the fund to accelerate its liquidation and make final distributions while managing the risk that contingent claimants emerge.
  • Adverse judgement insurance: gives economic certainty to a defendant in a live or prospective litigation.
  • Fronted Letters of Credit: replaces cash collateralized LCs with an insurance or surety backed LC creating liquidity. 
  • Environmental Insurance: covers liability to third parties arising from pollution events.

 

Why choose us? The Howden Difference

Howden Private Capital is trusted by the world’s largest investors and their world class advisors, combining its thoughtful ownership of processes with the power of the global insurance market to enable transactions our clients otherwise wouldn’t undertake.

We are not a traditional insurance broker, we purposefully hire from a variety of backgrounds including law, banking, investment management, tax and structured finance. A market-leading team of transaction professionals who understand complex risks and the round-the-clock rapid responsiveness required.

Our domestic and international strength provides a significant advantage when negotiating with best-in-class underwriters. We advocate firmly to secure broad coverage at the most competitive premium. 

Our dedicated private capital claims team take ownership of your recovery, project managing the claim and working toward resolution. The team has an excellent track record of favorable client outcomes providing invaluable assistance, deep relationships and personal insight along the way.

With more than 400 experts in 28 global offices, there is no one better placed to service cross-border deals. 

Ready to talk?

Connect with a Howden advisor to review your upcoming transactions and portfolio risk. Meet our Private Capital leadership team.

  • Photo of David Haigh

    David Haigh

    President, Private Capital
    Photo of David Haigh

    David Haigh

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    President, Private Capital

    David oversees practice management and strategic growth for Private Capital. David and his team work with leading financial sponsors and strategic clients across a broad range of sectors, supporting transactions up to $18bn in enterprise value. A recognized thought leader in M&A insurance, David speaks regularly at industry events on market trends and best practices.

    David was previously a Founding Partner and CEO of Atlantic Group, acquired by Howden in February 2026. Prior to Atlantic, he served as Head of North American Transactions at Howden M&A, where he advised financial sponsors and corporates on inbound, outbound, and intra-North American deals. He began as a project engineer in the energy sector.

    David holds a master's degree in Chemistry from the University of Durham. Outside of work, he plays rugby for the New York Athletic Club and enjoys skiing, hiking, and swimming.

  • Photo of Richard French

    Richard French

    Vice Chair, Private Capital
    Photo of Richard French

    Richard French

    Linked In
    Vice Chair, Private Capital

    Richard is a senior leader of the Private Capital Group, leading strategic growth and business development.

    Richard is a highly experienced transactional insurance broker, representing private equity sponsors and S&P 500 companies on transactions up to $18bn in enterprise value. Richard's diverse portfolio of representative transactions is reflective of his ability to create innovative, strategic solutions for complex issues across a variety of sectors.

    Richard was previously a Founding Partner of Atlantic Group, acquired by Howden in February 2026. Under his leadership, Atlantic established itself as a leading specialist insurance adviser and trusted transaction partner. Prior to Atlantic, Richard founded and built a Howden M&A insurance team that has grown into Europe's largest M&A insurance broker.

    He holds a degree in Economics with honors from the University of Bristol. Outside of work, Richard enjoys skiing, paragliding, and kiteboarding.

  • Photo of Adam Lickstein

    Adam Lickstein

    Managing Director, Private Capital
    Photo of Adam Lickstein

    Adam Lickstein

    Linked In
    Managing Director, Private Capital

    Adam Lickstein leads the private equity operational insurance team for Howden Private Capital in the North America, overseeing a dynamic group that drives due diligence in property and casualty and health and benefits, as well as the P&C brokering. Under Adam's leadership, the team also includes dedicated service professionals who excel in consulting for private equity funds and their platform companies, ensuring seamless insurance solutions for clients navigating complex transactions.

    Adam's career began at All Risks, where he honed his skills as a wholesale underwriter, directly handling deals and gaining invaluable experience in underwriting. He then spent time at Aon, concentrating on the middle market private equity sector, and followed that with his time at Marsh, where his focus expanded to middle and large market private equity, private credit, family offices, and real estate transactions.

    Adam graduated from the University of Florida with a master’s degree in finance and a minor in marketing. He is actively involved in several local charities, including Big Brothers Big Sisters, Make‑A‑Wish, and Autism Speaks.

    Outside of work, Adam enjoys spending time with his wife, two sons and daughter. Weekends often find them playing sports, visiting the beach, or attending local sporting events together.

Speak to our Private Capital team today

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