Kohlberg &Co. LLC has agreed to make an equity investment in U.S. Risk InsuranceGroup Inc., a specialty lines underwriting manager and wholesale broker.
The private equity firm's $1.6 billion fund, Kohlberg InvestorsVII LP, will invest in U.S. Risk. Kohlberg & Co. will reserve additional equitycapital to support U.S. Risk's growth initiatives.
Terms of the agreement were not disclosed.
Subject to regulatory approvals, the transaction is expectedto close during the third quarter.
U.S. Risk Founder, Chairman and CEO Randall Goss will remainin his current position upon closing and still be the company's largest individualstockholder. Scott Birnbaum, Kohlberg & Co.'s financial services operating partner,and Roger Egan will join U.S. Risk's board.