Esser hunts for firms and teams
Lightyear Capital has finished investing in Cooper Gay Swett & Crawford and will now take a controlling interest in the firm.
One arm of the private equity firm signed the investment deal on 22 October 2012 with Cooper Gay. Lightyear will share its controlling interest with unnamed investors.
In a statement, Cooper Gay said the cash would let it buy businesses and hire teams of people.
Cooper Gay chief executive Toby Esser said: “Together with Lightyear’s financial services expertise, we are confident that our excellent people and global platform strongly position CGSC to take advantage of the many opportunities available in the global insurance market.”
Lightyear managing partner Mark Vassallo said: “Toby Esser has done a wonderful job leading this business, and we look forward to working with him and management to accomplish his ambitions for CGSC in the future.”