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(Bloomberg) -- Zurich Insurance Group AG, Switzerland’s largest insurer, hired Evercore Partners Inc. to value its majority stake in Seven Investment Management LLP, a person with knowledge of the matter said.

Zurich, which bought a stake in the money manager in 2007, asked the advisory firm to calculate a valuation for regulatory requirements and study a possible sale, said the person, who asked not to be identified because the talks are private.

Seven Investment oversees about 7 billion pounds ($11 billion) in assets. Its shareholders include Aegon NV as well as the firm’s founders Chief Executive Officer Tom Sheridan and Justin Urquhart Stewart.

A spokesman for Zurich declined to comment, while a spokesman for Evercore didn’t immediately return a phone call seeking comment. The Financial Times reported the discussions earlier Friday.

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net Steve Bailey

Bloomberg