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Bermuda’s Aspen Insurance Holdings Limited announced that two of its shareholders, The Blackstone Group and DLJ Merchant Banking Partners, have agreed to sell a portion of their shareholdings.

Blackstone will sell 5,707,623 ordinary shares, and DLJ Merchant will sell 2,219,665 ordinary shares “in an underwritten public offering at a price to the public of $26.70 per share,” said the announcement.

Following the completion of the offering, The Blackstone Group and DLJ Merchant Banking Partners, a private equity investment affiliate of Credit Suisse, will own 5,707,625 ordinary shares of Aspen and 2,219,668 ordinary shares of Aspen, respectively.

Lehman Brothers is acting as the sole book-running manager for the offering. Aspen will not receive any proceeds from the sale of ordinary shares by The Blackstone Group and DLJ Merchant Banking Partners.