Debevoise, Willkie Lead Oaktree Capital’s Buy of Velocity Risk

Debevoise & Plimpton advised Oaktree Capital Management on an agreement by Oaktree-affiliated funds to acquire Velocity Risk Underwriters, LLC, a catastrophe-focused property and specialty insurance risks managing general agent.

Willkie Farr & Gallagher advised Nashville, Tenn.-based Velocity Risk on the transaction, for which no financial details were disclosed.

Founded by Nephila Capital in 2015, Velocity said it provides insurance coverage to clients in catastrophe-exposed areas of the U.S., such as coastal areas and regions prone to earthquakes.

“Velocity Risk has established itself as a leading property-focused MGA [managing general agent] through the quality of its management team, its strong underwriting ...