Four top Am Law 100 firms have landed lead roles on the proposed sale of New Yorkbased insurance brokerage and wealth management firm National Financial Partners (NFP) to private equity firm Madison Dearborn Partners for roughly $1.01 billion, or $1.3 billion when the convertible debt changing hands is included.
Monday’s announcement comes about two weeks after Chicagobased Madison Dearborn and rival private equity shop TPG Capital were identified by Reuters as the final bidders for NFPand about a year after Jessica Bibliowicz, the daughter of former Citigroup CEO Sanford Weill who has served as NFP’s chairman and CEO since being hired to lead the company in 1999said she would step down in May and be replaced by COO Douglas Hammond.
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