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The deal comes amid heightened interest in German distribution assets. -
This publication revealed two years ago that EQT could lodge a $1bn claim.
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It is targeting low-risk specialty lines where it has a competitive edge.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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Goldman Sachs and Cinven have also participated in the German broker’s sale process.
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PE owner Livingbridge brought the broker to market two years ago.
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Continued Apax and Carlyle support will give PIB time to differentiate its business.
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The business is one of the first to sell in this round of Lloyd’s M&A.
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Arturo Pelaez will continue in his managing director role at Brookfield Asset Management.
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The Bermudian investor already owned a 1% interest in the NY-based MGA platform.
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The deal, revealed by this publication in December, values the firm at $14bn.
