AnaCap Financial To Buy Insurance Broker For $215M

Law360, New York (May 8, 2014, 5:21 PM EDT) -- Private-equity firm AnaCap Financial Partners LLP on Thursday said it had agreed to buy British insurance broker Brightside Group PLC for £127 million ($215 million), after technology issues forced the insurer to raise emergency cash and slash its earnings outlook.

Brightside will be bought by Belvedere Bidco Ltd., a company created by AnaCap for the acquisition.

"We look forward to working closely with management and to investing in Brightside's business over the next few years to develop it into one of the leading personal and commercial...
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