Michael Dell’s family office leads $7.7bn deal to take insurance broker private
An investor consortium led by the family office of technology billionaire Michael Dell has reached a $7.7bn take-private deal for insurance broker The Baldwin Group. A go-private deal for Baldwin, valuing the insurance brokerage firm at $32.50 a share, was announced on Monday, confirming an earlier FT report. The transaction is co-led by Dell’s DFO Management and Sequence Holdings, a venture capital-backed tech group investing in the service economy, Baldwin said in a statement on Monday. Senior Baldwin employees will also be able to roll their equity into the deal. The Dell-led consortium prevailed over several large private equity groups in its pursuit of Baldwin, according to people familiar with the matter, showing how the tech world is increasingly muscling out Wall Street firms by paying richer valuations for assets with plans to deploy AI-enabled tech to boost returns The price tag of the deal equates to an 88 per cent premium to Baldwin’s valuation in June, before reports first