Alliant Insurance Services to be Acquired by The Blackstone Group

Private equity firm The Blackstone Group announced yesterday that it will purchase Newport, CA-based Alliant Insurance Services for a purported amount of $1.2 billion. Alliant is a specialty insurance broker and ranks among the 15 largest insurance firms in the U.S. It has more than 20,000 commercial clients, is owned by the New York-based investment firm Lindsay Goldberg and by the company's management and employees.

Published on June 4, 2007

This purchase comes nearly a year after an announcement by Alliant of its plans to buy the U.S. operations of Jardine Lloyd Thompson Group PLC, a London-based risk management adviser and insurance and reinsurance broker, for $100 million. Blackstone has nearly 800 employees, with offices in New York, Atlanta, Boston, Los Angeles, London, Paris, Mumbai, Hong Kong, and Hamburg.

The deal offers Blackstone a platform from which to incorporate more insurance brokerages into its business.