The Caisse de dépôt et placement du Québec has signed a deal to acquire a significant minority stake in Hyperion Insurance Group.
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Under the agreement, the Caisse says it will invest more than US$400 million in the company as a long-term growth partner.
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Hyperion is an international insurance group including broker divisions Howden and RKH and underwriting division Dual.
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The transaction is subject to regulatory consents.
The Caisse joins investment firm General Atlantic as a partner in Hyperion.
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Management and employees will remain the largest shareholder group.
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