Debevoise & Plimpton LLP is advising Oaktree Capital Management and Velocity Risk Underwriters in the $525 Million sale of Velocity Risk to Ryan Specialty (NYSE: RYAN) from funds managed by Oaktree. For more information, please see the company’s press release. As a component of this transaction, Velocity’s wholly owned E&S carrier, Velocity Specialty Insurance Company, will be acquired by FM.

Velocity Risk provides insurance coverage to clients in catastrophe-exposed areas of the U.S. Ryan Specialty is an international specialty insurance firm. FM is a leading commercial property mutual insurance company.

The Debevoise team is led by insurance M&A partner Andrew Jamieson and includes associates Joey Kaminsky and Yae Rin Kim and law clerk Cailey Silbert, employee benefits and executive compensation partner Franklin Mitchell, counsel Sam Whitaker, associate Sandy De Sousa and law clerk Rebeka Cohan, tax partner Lena Smith and associate Miriam Yeger, and antitrust partner Tim Cornell and counsel Kyra Bromley.