Choate represented Lumen Holdings, a technology-enabled managing general agent (MGA), in its acquisition by the Vistria Group, a middle market private investment firm. Lumen underwrites various lines of insurance across more than 30 states. The transaction establishes Lumen as a new platform investment within Vistria’s Financial Services strategy and reflects several years of work around the evolution of the specialty MGA market, as carriers increasingly rely on specialized, technology-enabled underwriting partners.