Bisys Group To Buy Financial Firm
NU Online News Service, Dec. 22, 11:55 a.m. EST?Bisys Group, the nation's second largest independent wholesale distributor of commercial property-casualty insurance, is acquiring a New Jersey-based provider of investment fund services to boost its investment services unit.[@@]
The New York-based Bisys said it has signed a definitive agreement to purchase RK Consulting. Roseland, N.J. Bisys noted that upon the completion of the deal, its private equity and hedge fund businesses will exceed $180 billion in assets under administration.
Financial terms of the transaction were not disclosed.
Bisys links a national network of about 2,700 retail brokers and agents with the products provided by 60 leading property-casualty insurance carriers. The firm supports the distribution process for a wide range of specialized p-c insurance solutions.
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