Ropes & Gray advised NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement and individual insurance and wealth management solutions, and Chicago-based private equity firm Madison Dearborn Partners (MDP) in NFP’s definitive agreement with HPS Investment Partners, LLC announced Nov. 5. Under the agreement, HPS, a leading global investment firm, will make a substantial minority investment in NFP; upon closing, MDP will maintain a controlling stake in NFP, along with NFP’s management and employees.
The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2017.
The Ropes & Gray team was led by private equity partner Matthew Richards (Chicago) and included tax partners Eric Elfman and Pamela Glazier (both of Boston); finance partner Alexander Zeltser (New York); and executive compensation & employee benefits partners Renata Ferrari and Jennifer Rikoski (both of Boston).
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