US fund buys $400mn stake in insurance broker Ace
The acquistion will help Tritax expand its urban and small-box logistics offerings in the UK’s South East and the Midlands. Mumbai: The US-based Blackstone Group has acquired a majority stake in Mumbai-based Ace Insurance Brokers for about $400 million, valuing the company at $425-450 million. The deal is the largest foreign investment in India’s insurance…