Initially announced in late December, Blackstone Tactical Opportunities, a division of Blackstone, has acquired a significant stake in SUNZ Insurance, providing a solid foundation for continued growth. SUNZ has already seen incredible growth in a short period. From its humble beginnings as a 16-person company, our company has grown to over 350 employees and a surplus of $120 million.
Menes Chee, a Senior Managing Director at Blackstone, said, “SUNZ is exceptionally well-positioned for future growth. Blackstone is excited to partner with their first-rate management team to help the company continue to expand into new markets and verticals so it can best serve its customers.”
Steve Herrig, CEO of SUNZ, said, “This partnership should propel SUNZ to a new level by enabling us to pursue new market opportunities and expand our national footprint. We look forward to a synergistic collaboration with Blackstone and to further accelerate the expansion of our specialized programs.”
Blackstone is one of the world’s leading investment firms and has become well known for its innovative economic growth approach. The organization has contributed to thousands of organizations’ ongoing success globally, equaling roughly $619 billion in assets under management. Headquartered in New York City, Blackstone has invested in not only innovative organizations but also innovative ideas. Blackstone has increased the prevalence of green energy initiatives through targeted investment, including solar power, and more recently, committing to cut carbon emissions by 15% across all their investment projects.
Like Blackstone, SUNZ is also looking towards our industry’s future and our organization’s next steps. As announced in December, we are committed to earning an A- rating with AM Best. By securing that rating, SUNZ will be well-positioned to continue our growth and tackle our expanding client base’s future needs.