Warburg Pincus to acquire program manager K2

Private equity firm Warburg Pincus LLC has agreed to buy San Diego-based program manager K2 Insurance Services LLC from Lee Equity Partners LLC.

Terms of the deal were not disclosed.

K2, which manages 24 programs ranging from transportation insurance to personal lines coverage, was formed in 2011 and was bought by Lee Equity in 2019.

Warburg Pincus’ other insurance investments include Fortegra Group LLC and McGill and Partners Ltd.