Illinois-based global insurance brokerage, risk management and benefits consulting services firm Gallagher will serve as a founding partner of the 18-acre Nashville Yards unfolding downtown.
According to a release, Gallagher has entered into a “strategic agreement” with Southwest Value Partners (SWVP) and AEG, joint venture partners and co-developers of Nashville Yards’ entertainment district and music venue. Specifically, Gallagher will serve as Nashville Yards’ exclusive insurance brokerage, benefits consulting and risk management partner.
Additionally, Gallagher will join Nashville Yards in organizing philanthropic and service initiatives designed to support regional nonprofits, the release notes.
Relatedly, Gallagher and AEG will collaborate to sponsor and host Special Olympics programs at Nashville Yards and in Los Angeles. Gallagher and Nashville Yards also have agreed to jointly organize and participate in an annual city-wide cleanup event.
Of note, Gallagher currently is not planning a future office presence at Nashville Yards.
Headquartered in Rolling Meadows, Illinois, and founded in 1927, Arthur J. Gallagher & Co. maintains operations in 57 countries and offers client services in more than 150 countries. The company’s largest Middle Tennessee presence is located in Williamson County, with 235 employees. It offers additional offices in Davidson and Sumner counties.
In 2020, Gallagher reported revenues of more than $7 billion.
“Middle Tennessee is home to hundreds of Gallagher employees and clients, and that number is growing quickly,” Jessica Govic, Gallagher area president, said in the release. “This partnership with Southwest Value Partners and AEG allows Gallagher to build a larger presence in Nashville while also reinforcing our longstanding commitment to community engagement and enrichment.
“Nashville Yards is a groundbreaking development that will bring new vibrancy to the city’s urban core, and we’re excited to become a founding partner and expand our relationships and impact throughout the downtown community."
Cary Mack, managing partner of SWVP (the owner and master developer of Nashville Yards), said Nashville Yards is being undertaken, in part, to yield a “positive, active participant in healthy initiatives” to benefit the city.
“Gallagher joins our commitment to wellness and community improvement, and through its similar focus builds upon our relationship with organizations like the Susan G. Komen Foundation and others that assist the Nashville community in so many important ways,” Mack said in the release.
The announcement follows SWVP and Pinnacle Financial Partners announcing in June the latter will eventually move its downtown headquarters to a future 34-story tower at Nashville Yards (read here).