TA Associates is taking a stake in benefits manager The Benecon Group with financing from Ares Management and Varagon Capital Partners.
Private-equity firm TA invests in companies in technology, healthcare, financial services, consumer and business services. Benecon manages self-funded employee benefit programs for companies. “A number of factors continue to drive growth in the self-funded medical benefit market, including a need for better cost management and greater control over plan design,” said Michael Berk, a TA managing director who has also joined the Benecon Board of Directors.
Griffin Financial Group served as financial advisor to Benecon. Goodwin Procter provided legal counsel to TA Associates.