Lightyear Lands Major Stake In Insurance Broker Cooper Gay

Law360, New York (October 23, 2012, 10:08 PM EDT) -- Financial services-focused investor Lightyear Capital LLC announced Monday that one of its funds had inked an agreement to buy a controlling interest in Cooper Gay Swett & Crawford Ltd., a leading wholesale insurance and reinsurance broker, for an unspecified sum.

An affiliate of New York-based Lightyear Fund III LP and unnamed institutional co-investors struck the deal for the equity stake in London-headquartered Cooper Gay, which has placed more than $3.5 billion in premiums for clients in British, U.S., and international insurance markets, according to statements from...
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