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Equity stake in MGA acquired


Managing general agency Paragon Insurance Holdings L.L.C. said Monday that Edgewood Partners Insurance Center and Oak Hill Capital Partners have acquired an equity state in the company.

Edgewood Partners is based in San Francisco and Oak Hill Capital Partners in Menlo Park, California.

Avon, Connecticut-based Paragon was formed in 2014 by Ron Ganiats and Ron Mariano. It has 15 programs and controlled premiums of more than $125 million, according to the statement.

Spokesmen could not immediately be reached for comment.

Oak Hill Capital Management L.L.C. has a controlling equity position in EPIC.

A unit of EPIC, which is backed by Oak Hill, announced in October it had acquired New York-based Frenkel & Co.