Capital Z invests $50m in Lloyd’s broker owner BMS Associates
Investment to be used to expand broking and underwriting businesses.
Private equity firm Capital Z Partners Management has invested $50.7m [£30m] for a minority holding in BMS Associates.
BMS Associates, which owns Lloyd's broker BMS and Pioneer Underwriters, said it will use the investment to expand both the broking and underwriting businesses.
Robert Spass, managing partner and co-founder of Capital Z, will join the group's board as part of the deal.
Growth
Dane Douetil, group chief executive officer of BMS Associates, said: "Over the last three years we have
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