PSC Insurance Group has paid £18.5 million ($33 million) for a 19.6-19.9% stake in London-listed private equity investor BP Marsh & Partners.

“BP Marsh is a world-class investor in insurance intermediary assets and businesses, and has a very strong management team,” PSC MD Paul Dwyer said.

“We expect to be a long-term investor, and expect over time for there to be numerous collaboration opportunities.

“The investment in BP Marsh is likely to broaden the global horizons of PSC.”

BP Marsh’s global investment portfolio includes stakes in the parent of Sydney-based MB Insurance Group, Singapore-based Asia Reinsurance Brokers and US specialty lines distributor XPT.