In recent New York business news,
the private equity firm Kohlberg Kravis Roberts & Co. (KKR) has agreed to
buy Alliant Insurance Services Inc. from Blackstone Group L.P. (BX). The
transaction terms were not disclosed, but Alliant employees own approximately 45%
of the company and they will roll over “a substantial portion” of that
investment to the new company.
As Alliant’s chief executive Tom
Corbett explained, "We are pleased to be partnering with KKR and
appreciate the positive role that private capital can play in helping us manage
our business and execute a growth strategy.”
This is not the first time that
Alliant has partnered with private equity investors. In August 2007, Blackstone
bought Alliant for $1.2 billion and took over the stake from Lindsay Goldberg &
Co. LLC, which is based in New York.
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