Broking giant Aon is set to negotiate a management buy-out of its London-based investment advice arm, Aon Consulting Financial Services.
The deal is being backed by venture capital house Barclays Private Equity.
A spokeswoman for BPE said it is supporting the buy-out by taking a £20m stake in the company in “the next few weeks”.
BPE last year funded a management buy-out of direct motor writer Admiral from Lloyd's managing agent Brockbank for £110m.
A spokeswoman for ACFS declined to confirm or deny the possibility of a deal.
ACFS employs 300 people, providing advice on investments, excluding general insurance.