Two private equity groups are cashing in part of their investments in Aspen Insurance Holdings Ltd. in a share repurchase worth $156 million.

Aspen said the Blackstone Group and CSFB Private Equity will sell 5.9 million shares at a price per share of $26.50, representing a 1.7 percent discount to the closing price on November 30, 2006. Following the share repurchase, Blackstone Group will hold approximately 11.4 million shares and CSFB Private Equity will hold approximately 4.4 million shares.

The repurchase was made under the terms of Aspen?s $300 million share repurchase programme of up to $300 million of its ordinary shares within two years. The purchase price will be funded with the proceeds of the sale of Aspen?s 7.401 percent perpetual non-cumulative preference shares, which closed on November 15. The ordinary shares will be retired once purchased, the company said.

?The opportunity to buy back a meaningful block of shares is part of our very deliberate and considered capital management strategy to enhance returns for investors,? said Chris O?Kane, chief executive officer.

?We were able to purchase these shares, which were restricted in the hands of these investors, in a manner which does not impact our current public float and yet reduces the number of shares which could be subject to future sales. We are also very pleased that both of the shareholders who took part in this share repurchase programme remain holders of Aspen stock.?