MMC Capital Inc., the private equity investment subsidiary of Marsh & McLennan Companies Inc., is adding more fire power to its Trident II LP fund with the recent appointment of Robert Lipp as a senior adviser.
Prior to joining MMC Capital, Lipp served as vice chairman, member of the Office of the Chairman, and chief executive officer of the Global Consumer Business at Citigroup.
In his new role as a senior advisor Lipp will provide counsel on all aspects of MMC Capital’s business, with particular emphasis in the insurance and other financial industries.
“His extraordinary experience and insights into the insurance and financial services industries will be a valuable addition to MMC Capital,” said Charles Davis, president and chief executive officer at MMC Capital, in a statement.
According to the firm’s Web site Trident II was formed in 1999, with approximately $1.4 billion of commitments. The fund seeks investments in the global insurance, reinsurance and financial services industries, including investments in the property casualty, life, health, reinsurance, insurance distribution, insurance services, insurance technology and financial services industries worldwide.
Portfolio companies in Trident II include AMS, a family of insurance technology companies that provides software and information products to insurance agencies and companies; Danish Re, a global reinsurer; Global Specialty Risk (GSR), a provider of directors’ and officers’ liability insurance and other specialty risk coverage to underserved niches of the professional liability marketplace; Newmarket, an underwriter focusing on specialty lines of insurance; and Sedgwick CMS, which is a provider of cost-effective casualty and disability claims management programs and managed care services.