Apollo is understood to have hit a glitch which has caused its bid to stall
Markerstudy is understood to be on the verge of making a successful bid for Chaucer’s motor book, making it the lead runner in the acquisition race.
In January it was reported that private equity giant Apollo had hired former Giles boss Brendan McManus (pictured) to lead its bid for Chaucer’s $300m motor book.
Apollo was initially leading the race against rival interest from Markerstudy and private equity house AnaCap.
But the private equity firm is understood to have hit a glitch which has caused its bid to have stalled, allowing Markerstudy to emerge as a favourite to take on the business.
When Insurance Times contacted McManus, he declined to comment.
Markerstudy and Chaucer were unavailable for a comment