Jardine Lloyd Thompson, Blackstone Plan Joint Venture

New York investment bank Blackstone Group and British insurance broker Jardine Lloyd Thompson are taking on a joint venture to form a U.S.-based risk consultancy called Capital Risk Group.

JLT will own 80 percent of the new venture. The remainder will be held by a fund managed and invested by Blackstone. JLT Risk Solutions chief Steve McGill will head the new venture.