KKR Increases Investment in USI Insurance Services
USI Insurance Services (“USI” or the “Company”), a leader in risk management, employee benefits and retirement consulting, today announced that existing shareholder KKR is making a new equity investment of more than $1
KKR and CDPQ acquired USI in
Under the terms of the agreement, KKR and USI will purchase shares of USI held by CDPQ and certain other investors; more than
“When we embarked on our journey with KKR and CDPQ, we shared a vision about the forces impacting our industry and a plan for USI to be a leading innovator in that transformation, combining world-class sponsorship and investment with our team of experts, differentiated solutions and technology,” said Michael Sicard, Chairman and CEO of USI. “The power of this strategic partnership has exceeded our expectations, and we are thrilled to be continuing our journey with the support of our long-term shareholders.”
“Alongside KKR, a tremendous strategic partner in this investment journey, we have supported the growth of USI since
2017 – a unique and resilient company with an outstanding management team committed to offering best-in-class services to its clients,” said Martin Longchamps, Executive Vice-President and Head of Private Equity at CDPQ. “Our dynamic partnership has unlocked multiple opportunities and USI is well positioned to capitalize on its strengths and to continue creating value for all stakeholders.”
“We are enormously proud of everything the USI team has accomplished and we have a high conviction in the opportunity ahead for this winning team and operating model as USI continues to innovate and scale,” said Chris Harrington, Partner at KKR. “Together with CDPQ we have supported significant investments in USI’s platform and technology that position USI for long-term growth. We are pleased to reach this agreement to increase our ownership with a substantial investment of additional long-term capital.”
KKR is making the additional investment commitment of more than $1
ABOUT USI
USI is one of the largest insurance brokerage and consulting firms in the United States, delivering property and casualty, employee benefits, personal risk, program and retirement solutions to its clients nationwide. Headquartered in Valhalla, New York, USI connects over 10,000 industry-leading professionals from more than 200
ABOUT KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE:
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its
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