Former Marsh CEO Reportedly Building Fund to Invest in Insurers

Jeffrey Greenberg, former Marsh & McLennan chief executive officer, is raising funds for a private equity fund that will invest in insurance and other financial services companies, the Wall Street Journal has reported.

The fund, named Acquline, could be up to $1 billion, one person familiar with the plans told the Journal.

Almost a year ago Greenberg stepped down as head of the giant insurance broker in response to investigations by New York Attorney General Eliot Spitzer.