NEW YORK (AP) — Marsh & McLennan Cos. is selling its risk consulting subsidiary Kroll Inc. for $1.13 billion to Altegrity Inc., bringing Kroll under private equity ownership.

The companies announced the all-cash transaction before markets opened Monday.

Kroll is a 3,000-employee subsidiary of Marsh & McLennan, the publicly traded owner of the insurance brokerage Marsh as well as other risk and consulting subsidiaries, including Mercer.

Kroll's risk consulting covers areas such as investigative, intelligence, financial, security and technology services. Kroll is headquartered in New York, with offices in more than 27 countries.

Marsh & McLennan President and CEO Brian Duperreault said his company, which has owned Kroll for six years, decided its long-term strategy is to focus on its risk and insurance services and consulting businesses.

"Altegrity, with its complementary practice areas and expertise, will be a superb partner with Kroll," Mr. Duperreault said.

Altegrity, based in Falls Church, Virginia, is owned by the private equity firm Providence Equity Partners. With the addition of Kroll, Altegrity will have about 11,000 total employees across 30 countries.

Altegrity's CEO, Mike Cherkasky, served as Kroll's president and CEO from 2001 to 2004.