(Reuters) -Asset manager Onex on Thursday announced it has teamed up with insurer AIG to buy privately held specialty insurer Convex Group in a $7 billion deal.
As part of the deal, Onex and AIG will take a nearly 63% and 35% stakes in the firm, respectively, with the rest held by Convex’s management.
The deal is expected to close in the first half of 2026.
Morgan Stanley acted as financial adviser to AIG, Evercore advised Convex, and Goldman Sachs advised Onex.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Vijay Kishore)
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