KKR, CDPQ Drop $4.3B On Insurance Brokerage USI

Law360, New York (March 17, 2017, 1:45 PM EDT) -- Canadian pension fund manager Caisse de dépôt et placement du Québec and private equity shop KKR & Co. LP revealed Friday they are acquiring USI Insurance Services LLC from its private equity owner in a deal that values the brokerage and consulting firm at $4.3 billion.

New York-based KKR and Quebec City-based CDPQ will acquire the insurance brokerage through their private equity partnership, which draws funds from KKR's balance sheet and from CDPQ’s pool of capital, according to the Friday statement.

Onex Corp., the seller, had...
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