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3i sells insurer as exit strategy continues

Private equity firm has continued its efforts to return capital to investors by selling its stake in UK insurance group Hyperion to a US firm

3i Group has continued its efforts to return capital to investors by selling its stake in UK insurance group Hyperion to US growth investor General Atlantic.

The buyout firm sold its 22.8% stake in Hyperion for £66m. The sale has earned the private equity firm a 2.1x money multiple on its £31m investment made in 2008. Hyperion provides insurance broking and underwriting services to commercial clients.

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