Private equity manager Greenhill Capital Partners said Friday it invested $20 million a Michigan-based owner of insurance brokerages.
The investment in Grand Rapids, Mich.-based Acrisure LLC, is designed to support future growth. Acrisure has bought or entered into partnerships with 17 insurance agencies since it was started in 2005.
Greenhill manages four private equity funds worth $1.7 billion. It was spun off from investment bank Greenhill & Co. Inc. at the end of 2009.
(This version CORRECTS relationship between Greenhill Capital Partners and Greenhill & Co.)
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