Private equity firms Madison Dearborn Partners and HPS Investment Partners are set to acquire Arachas Corporate Brokers, a commercial insurance brokerage, from Sovereign Capital Partners, a private equity firm. Financial terms were not disclosed. “This has been a fantastic period of expansion and development for the group. Sovereign has been a highly supportive investor providing both financial and strategic capability. We are well-positioned to continue to flourish in what is an exciting insurance market," Conor Brennan, Arachas CEO.