Howden has made two senior hires to its global financial sponsors practice as it steps up investment in advisory capabilities for private capital clients against a more complex, slower-growing deals backdrop.

The broker has appointed Emily Almond as divisional CEO and Sebastiano Doria as chair of the practice, which serves private equity, private credit, infrastructure and sovereign investors, as well as corporates undertaking M&A.

According to the company, clients in this sector "have unique needs for tailored risk advisory and insurance solutions" across the investment lifecycle – from transactional risk solutions at deal stage to portfolio company insurance and risk advisory during ownership and at exit.

The move follows Howden's agreement to acquire US-based Atlantic Global Risk in a deal aimed at creating a "global transaction liability powerhouse."

Bringing expertise from Marsh

Almond joins from Marsh, where she had been chief client officer. She brings more than 18 years of experience advising private capital investors on M&A, risk mitigation and risk transfer, with a particular focus on portfolio company operational risks.

Doria, also formerly of Marsh, is a 25‑year veteran of the private equity insurance market and previously served as managing director and vice-chairman, global and international private equity.

Both will be responsible for establishing and managing how Howden serves the private capital sector globally, including coordinating transactional risk, portfolio programmes and advisory services.

David Howden, CEO and founder of Howden, said the addition of Almond and Doria will strengthen the company's global service for private capital clients.

Role alongside CAP and Atlantic

The Global Financial Sponsors team will sit alongside Howden’s Capital, Advisory and Placement (CAP) unit and its existing transactional risk specialists. The broker has been expanding in this area through both organic hiring and M&A, with Atlantic expected to strengthen its position in North America and complement earlier platform acquisitions such as TigerRisk on the reinsurance side.

Against that backdrop, the Almond and Doria appointments are intended to provide a focal point for how Howden serves financial sponsors across different strategies and regions, rather than only at deal stage.

Targeting a reshaped private capital market

The hires come as major global brokers and specialist MGAs continue to compete for private capital and transaction liability business, viewing it as a key source of fee income, cross-sell opportunities and data.

Howden is building out the practice at a time when private markets continue to grow in size but face tougher fundraising conditions and heightened risk. Insurance data pointed to record levels of assets under management in private equity and other alternative asset classes, even as higher interest rates, geopolitical tensions and valuation gaps have slowed exits and deal volumes.

The expansion underscores how transactional liability and related solutions have moved from niche products to standard features of competitive auction processes, particularly for sponsor‑backed deals. Brokers with specialist private capital practices are competing to package transactional risk, portfolio insurance and advisory capabilities on a global basis.