Blackstone to sell Alliant to KKR

KKR is buying Alliant Insurance Services from the Blackstone Group. Financial terms weren't announced. Alliant's management and employees own about 45% of the company and are rolling over a "substantial portion," a statement says. Alliant is a specialty insurance brokerage firm. The deal is expected to close in fourth quarter. JP Morgan Chase and Blackstone Advisory Partners acted as financial advisors to Blackstone.

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