The Blackstone Group has struck a deal to buy its first insurance broker - Alliant Insurance
The Blackstone Group is to buy its first insurance brokerage firm, the privately held Alliant Insurance Services.
Terms of the deal were not disclosed, but reports said Blackstone, who is buying Alliant from private equity firm Lindsay Goldberg, will pay $1.2bn.
The deal comes nine months after Alliant announced plans to buy the US operations of Jardine Lloyd Thompson for $100m.
Blackstone's Senior Managing Director Chinh Chu said: "Alliant is an attractive platform due to its market leadership in its core segments (and) superior growth prospects."
