KKR has made a new equity investment of more than $1 billion in USI Insurance Services, a risk management, employee benefits and retirement consulting company.

KKR and CDPQ acquired USI in 2017. USI has executed multiple growth initiatives and transformative acquisitions to extend its leadership position in insurance brokerage and consulting with a range of technology-enabled property and casualty, employee benefits, personal risk and retirement services. The USI team has more than doubled in size to over 10,000 team members across more than 200 offices. KKR and USI will purchase shares of USI held by CDPQ and certain other investors; more than 50 percent of the shares held by CDPQ will be purchased in the transaction. Following the closing of the transaction, KKR will be USI’s largest single shareholder.