Expansive boutique advisory firm Stonybrook Capital has hired former EJF Capital director Will Generous as it continues to build out its resources to target the small to mid-sized deal market for fundraising and M&A, The Insurer can reveal.
According to market sources, Generous will be a senior vice president at the Joe Scheerer-led firm.
At EJF – a hedge fund with $6bn of assets under management – Generous was most recently director, managing the firm’s insurance portfolio.
He actively covered public and private insurance companies in the US, Bermuda and Lloyd’s during his time at EJF, which invests across capital structures, including both debt and equity.
Generous is thought to have been involved in recent insurance sector financing transactions involving Midwest Family, as well as debt deals for HIIG – now Skyward Specialty – and eMaxx that Stonybrook advised on.
The addition of Generous to the ranks at Stonybrook comes as the firm continues to build out resources to support its hybrid investment banking and reinsurance broking model.
Stonybrook has acted as exclusive financial adviser and provided reinsurance intermediary services to HIIG and eMaxx, the insurtech MGA formerly known as Energi that looked to transition to a full-stack carrier last year.
The company has also added to its analyst ranks with Harry Smith and is expected to further boost its analytical capabilities in the coming weeks, while it is also recruiting for deal makers in its M&A advisory team.
The insurance industry-focused advisory firm has a strong focus on middle market transactions and advises on M&A, capital raising – including Funds at Lloyd’s – and ventures both through an insurtech fund and a subordinated debt fund.
It has been building out its capabilities in the reinsurance brokerage segment in a bid to offer a full suite of services to carrier clients, primarily in the regional and mutual space.
It also has a focus on the alternative risk transfer segment of the market, including captives, risk retention groups and self-insured trusts, and works with MGAs.
Last year it added former Everest Re and Holborn executive Paul Kneuer as a managing director to further develop its analytics and research capabilities, in addition to working on M&A transactions and reinsurance placements.
It has also been building its presence in London with the appointment of Lloyd’s market veteran Chris Harman, while in Bermuda it added former Platinum Underwriters Holdings CEO Greg Morrison to its board.
And in January this year it signed up former Guy Carpenter, JLT Re and Towers Watson executive Bill Eyre as a strategic adviser.
Stonybrook did not immediately respond to a request for comment on this article.