Elliott Special Risks partners with Newport Private Yield

Elliott Special Risks recently entered into a partnership with Newport Private Yield LP.Through this partnership, Newport is acquiring an ownership interest in the company, however senior management will continue to own a significant interest and maintain operational control and responsibility for the direction of the business. In addition, Newport an asset management company engaged in a variety of businesses through partnerships with various entrepreneurs recently filed a preliminary prospectus for an initial public offering of trust units of Newport Partners Income Fund (the Fund.) At the time of closing, the Fund will have an ownership interest in 10 operating partnerships, including Elliott Special Risks a Toronto and Montreal-based insurance managing general agent specializing in commercial liability insurance. Elliott underwrites specialty programs on behalf of insurers and provides retail brokers with access to markets which they cannot access directly.