Earlier this year the Clear Group revealed that the asset management arm of multinational investment bank Goldman Sachs has invested in the broker. Yesterday, the Chartered insurance broker announced that it has completed the new investment and is in place to utilise it to drive the next phase of growth.
Read more: Clear Group enters next phase of growth with new investment
Per the terms of the deal, Goldman Sachs agreed to acquire a majority stake in the business, following its four-year partnership with ECI Partners. The funding will see the Clear Group advance its business across the UK while providing significant investment in people, technology and innovation. In addition, Clear Group will look to expand its reach into new markets through targeted M&A activity.
Clear Group CEO Mike Edgeley said of the completion: “It’s great news to confirm our new partnership with Goldman Sachs. The new investment is a major boost for the Clear Group as we enter the next phase of our exciting growth strategy."
