Apax Is Said to Pick Nomura, UBS for Sale of Insurer Gamalife

Private equity firm Apax Partners has picked Nomura Holdings Inc. and UBS Group AG to help arrange a potential sale of European life insurance consolidator Gamalife, according to people familiar with the matter.

Apax is seeking a valuation of about €600 million ($703 million) for Gamalife in a deal, said the people, who asked not to be identified as the information is private. Other private equity firms and insurance companies have expressed interest in the asset, the people said.