Leading global investment firm Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) (NYSE: KKR) today announced an agreement to acquire Alliant Insurance Services, Inc., the nation’s largest specialty insurance brokerage firm, from Blackstone (together with its affiliates, “Blackstone”) (NYSE: BX).Terms of the transaction were not disclosed. Tom Corbett, Chairman and CEO of Alliant said, “This transaction marks the next phase of Alliant’s growth and offers us an exciting opportunity to continue to build the business and offer best in class products and services to our clients. We are pleased to be partnering with KKR and appreciate the positive role that private capital can play in helping us manage our business and execute a growth strategy. This transaction will enable Alliant to remain independent and maintain its market leading position.” The management team and employees of Alliant own approximately 45% of the company and will roll over a substantial portion of their investment in the company. Tagar Olson, Member of KKR, said, “Alliant’s leadership team has built a unique insurance distribution franchise that is differentiated in its expertise, product offerings and client relationships. We are excited to partner with the Alliant team as it builds on the successful track record of product innovation, platform expansion and accretive acquisition activity in the specialty insurance marketplace.” Chinh Chu, Senior Managing Director of Blackstone, said, “Alliant’s deep entrepreneurial culture combined with best in class specialized products have allowed it to stand out as an industry leader. Blackstone was pleased to have worked with Alliant’s management team over the past five years to help expand the company’s market reach and strengthen its national presence through a series of strategic acquisitions.” JP Morgan Chase and Blackstone Advisory Partners served as advisers to Blackstone and Alliant on the transaction. The transaction is expected to close in the fourth quarter, subject to certain conditions.