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New York-based investment firm Kelso & Co., will acquire a majority stake in Boston-based broker and risk management firm Risk Strategies Co. from Kohlberg & Co. L.L.C., Risk Strategies announced Tuesday.
Terms of the deal were not disclosed.
Risk Strategies' leadership team, led by CEO Michael Christian, will remain in place, Risk Strategies said in a statement.
Risk Strategies, focuses on middle- and upper-middle-market commercial and high-net-worth clients. Kohlberg & Co. replaced Berkley Capital's investment in Risk Strategies in June 2013.
“The new investment and partnership will help Risk Strategies enhance its client resources, add new teams of professionals in several important segments and continue its strategic M&A activities to create additional growth opportunities,” said Risk Strategies in the statement.
Risk Strategies Co., a privately held commercial insurance and benefits brokerage, said on Thursday that Mount Kisco, N.Y.-based private equity firm Kohlberg & Co. has acquired a majority of RSC stock.