CDPQ and KKR to Acquire USI Insurance Services

Caisse de dépôt et placement du Québec (CDPQ) and private equity firm KKR & Co., along with USI employees, are jointly buying Valhalla, N.Y.-based USI Insurance Services LLC from Onex Corporation for an enterprise value of around US$ 4.3 billion. Excluding debt, the deal comes to roughly US$ 2 billion. CDPQ and KKR will have equal ownership in USI. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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