HUB'S $23B VALUATION AND SUCCESSFUL GROWTH TRAJECTORY ATTRACTS ADDITIONAL MINORITY INVESTMENT
The Californer/10254239

CHICAGO, Sept. 15, 2023 ~ Today, Hub International Limited (HUB), a leading global insurance brokerage, announced the successful completion of a substantial minority investment from Leonard Green & Partners, L.P. (LGP). The planned investment from the Los Angeles-based private equity firm was first announced in April of this year.

Since 2013, when Hellman & Friedman (H&F) initially invested in HUB, the company's valuation has grown fivefold to $23 billion today. The proceeds of this investment will be used to repurchase equity interests from existing equity holders. H&F will retain a controlling-interest in HUB, while the company's management team will continue to hold a significant equity position. Altas Partners (Altas) will remain a significant minority shareholder and member of the board, and LGP will join the board as well.

More on The Californer

• AI-based Tissue Staining to Detect Amyloid Deposits Without Chemical Stains or Microscopy
• California: Governor Newsom welcomes the largest CHP graduating class in over two years
• California's earthquake warning system notified millions ahead of today's Southern California quake
• Long Beach Airport Seeks Community Votes to Make USA Today's Top 10 List of Small Airports
• Atlas Elite Entertainment Releases New Single "Forever"

Morgan Stanley & Co. LLC served as exclusive financial advisor to HUB, Simpson Thacher & Bartlett LLP served as legal counsel to HUB, and MarshBerry provided market research assistance to HUB. Barclays acted as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to LGP.

---

Show All News | Report Violation