KKR, a private equity firm, and CDPQ, institutional investor, as a joint venture acquired USI Insurance Services, a leading US insurance brokerage and consulting firm from Onex Corporation for $4.3 bn. The partnership is designed to pursue attractive investment opportunities in high-quality businesses with a longer duration and a lower risk profile in order to support strong management teams and facilitate long-term strategic business building. “We look forward to working with CDPQ in helping management achieve its long-term vision to grow the business through accelerated investments in USI’s people, technology and solutions. Our successful experience in the insurance and benefits brokerage industry, coupled with the impressive track record of Mike Sicard and the USI management team, give us confidence in our ability to generate compelling returns while growing the business over the long term.” Tagar Olson, KKR Head of Financial Services.