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GCP Capital Partners Announces Sale of Acrisure

               GCP Capital Partners Announces Sale of Acrisure

Successful GCP Track Record of Investments in the Insurance Industry

PR Newswire

NEW YORK, March 5, 2013

NEW YORK, March 5, 2013 /PRNewswire/ --GCP Capital Partners, a middle market
private equity firm, announced the sale of its interests in Acrisure to
Genstar Capital. Based inGrand Rapids, Michigan, Acrisure is the
50^thlargest privately owned retail insurance agency inthe United States.
The company was co-founded in 2005 by CEOGreg Williamsto acquire independent
insurance agencies across the Midwest and since then has completed 26
acquisitions. The sale was a successful outcome for GCP following its $20
million investment in Acrisure in 2010 in order to support the company's
acquisition growth plan.

Mr. Williams said, "I am very pleased with the partnership we developed with
GCP and the confidence they demonstrated in our team over the course of their
investment. Having initially built Acrisure with primarily individual and
personal capital, GCP was our first institutional capital partner. We are
grateful for GCP's strategic guidance and hands-on involvement, which allowed
us to grow our sales and operating infrastructure more rapidly and to position
Acrisure today to enter its next phase of growth with its new investment
partner."

Boris Gutin, a Managing Director at GCP Capital, said, "Greg Williams is a
highly capable manager and leader who has built an exceptionally strong team
and culture at Acrisure. There are a limited number of insurance brokerage
platforms in the U.S. that have grown to a significant scale. Since our
investment three years ago, we have worked closely with Acrisure's management
to achieve its growth plans and create a strong operating platform through
complementary acquisitions, organic growth and development of key sales and
management talent. Through these efforts, Acrisure has become a leading
retail insurance platform in the Midwest, and we believe the company is
capable of continuing to generate substantial future growth."

Robert Niehaus, Chairman of GCP Capital, said, "Our investment strategy is to
partner with strong management teams in industries having long-term growth
prospects and a high degree of fragmentation. GCP has completed seven
investments in the insurance industry. We evaluated a large number of
insurance brokerage platforms before choosing to back Greg and his team at
Acrisure. We are delighted to have provided support to management over the
last several years as Acrisure significantly grew its earnings and to have
completed a successful realization for our investors."

GCP and its predecessor funds have completed a large number of investments in
business models capable of both organic growth and substantial acquisition
growth, often within fragmented industries such as insurance brokerage. GCP
invested in Global Signal, a wireless cell tower business, which acquired over
7,000 additional towers during the course of GCP's investment. GCP also
invested in Heartland Payment Systems, a high-growth merchant processing
business, and Republic Insurance, a Texas-based property and casualty
insurance company. GCP has several current investments in the insurance
services space and continues to evaluate opportunities in the sector.

About GCP Capital Partners

GCP Capital Partners manages the Greenhill Capital Partners private equity
funds totaling $1.9 billion in committed capital. GCP has a successful track
record investing $1.4 billion in over 50 portfolio companies. GCP's managing
directors have over 110 years of combined private equity and senior operating
experience and have substantial personal capital invested in the funds. GCP
has made significant private equity investments in the business services,
education, energy, financial services, insurance and telecommunications
industries. GCP Capital Partners is the successor to Greenhill Capital
Partners, the merchant banking business of Greenhill & Co., Inc. (NYSE: GHL)
which the principals formed in 2000. For more information about GCP Capital
Partners, please visit www.gcpcapital.com.

Contact:
Steve Lipin
Brunswick Group LLC
(212) 333-3810

SOURCE GCP Capital Partners

Website: http://www.gcpcapital.com
 
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