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.

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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.

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