KKR closes $4.3bn USI acquisition

Private equity firm KKR and Canadian pension fund Caisse de
dépôt et placement du Québec (CDPQ) have closed a
$4.3bn deal to buy insurance broker USI from shareholders that
include Onex and USI employees.
USI previously changed hands in a management buyout in December
2012 for an equity investment of $610mn, of which Onex's share
was $170mn.
Toronto-listed Onex said it had received total proceeds of
$2.1bn from the investment. That equates to a gross multiple of
invested capi