Spring break comes early for Markel

markelMarkel Corp. is at it again.

The local insurance giant has invested in yet another private business, this time adding to its portfolio a stake in a Florida-based startup investment firm.

GoodHaven Capital Management said in its inaugural release that Markel will not only be its first client, but that it also made a “significant minority investment in GoodHaven.”

It’s unclear whether this latest investment is being made through Markel’s investment arm, Markel Ventures, or directly by Markel Corp. Markel Ventures has been active of late, acquiring majority stakes in two local companies in the past month, including Diamond Healthcare Corp. and RetailData LLC.

Read more about those deals here.

Neither Markel spokesman Bruce Kay nor Markel Ventures head Tom Gayner could be reached by press time.

GoodHaven was founded by Larry Pitkowsky and Keith Trauner, who left Fairholme Fund, a Rhode Island mutual fund, to start their own firm.

“We are delighted to have Markel as our partner in launching GoodHaven,” Pitkowsky said in a prepared statement.

Gaynor said in a statement: “We are delighted to partner with the principals of GoodHaven ans they launch their firm. We’ve known Larry and Keith for decades and we respect their skills as disciplined and thoughtful investors.”

Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].

markelMarkel Corp. is at it again.

The local insurance giant has invested in yet another private business, this time adding to its portfolio a stake in a Florida-based startup investment firm.

GoodHaven Capital Management said in its inaugural release that Markel will not only be its first client, but that it also made a “significant minority investment in GoodHaven.”

It’s unclear whether this latest investment is being made through Markel’s investment arm, Markel Ventures, or directly by Markel Corp. Markel Ventures has been active of late, acquiring majority stakes in two local companies in the past month, including Diamond Healthcare Corp. and RetailData LLC.

Read more about those deals here.

Neither Markel spokesman Bruce Kay nor Markel Ventures head Tom Gayner could be reached by press time.

GoodHaven was founded by Larry Pitkowsky and Keith Trauner, who left Fairholme Fund, a Rhode Island mutual fund, to start their own firm.

“We are delighted to have Markel as our partner in launching GoodHaven,” Pitkowsky said in a prepared statement.

Gaynor said in a statement: “We are delighted to partner with the principals of GoodHaven ans they launch their firm. We’ve known Larry and Keith for decades and we respect their skills as disciplined and thoughtful investors.”

Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].

This story is for our paid subscribers only. Please become one of the thousands of BizSense Pro readers today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Uncategorized

Editor's Picks

Subscribe
Notify of
guest

0 Comments
oldest
newest most voted
Inline Feedbacks
View all comments