Warburg Pincus has acquired K2 Insurance Services (K2), a speciality insurance programme manager, from private equity firm Lee Equity Partners (Lee Equity), according to a report by Captive Insurance Times

The report cites a statement issued by K2 as saying that Warburg Pincus will now support the firm’s continued growth strategy, including mergers and acquisitions.

The terms of the transaction have not been disclosed.

K2 offers a diversified portfolio of 24 specialised programmes across four key segments: speciality commercial, speciality transportation, international, and personal lines, and also provides a number of centralised services to managing general agents.

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