Ardonagh Set to Raise Up to $2.5 Billion to Fuel Expansion Spree

Ardonagh Group Ltd. is nearing a deal to raise as much as $2.5 billion from investors to help fuel the private equity-backed insurance broker’s rapid growth.

The London-based firm is expected to close the capital-raise this summer in an oversubscribed process, according to people with knowledge of the matter. The proceeds will be used to fund growth opportunities including potential acquisitions, the people added, asking not to be identified as the fundraising is not public.