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HUB International Limited, a top-tier global insurance brokerage, has recently announced the successful completion of a significant minority investment. This investment, led by Leonard Green & Partners, L.P. (LGP), also includes contributions from several other notable institutional minority investors.
Key Details of the Investment
The investment by LGP, a renowned private equity firm based in Los Angeles, was initially announced in April 2023. The funds from this investment are intended to buy back equity interests from the current equity holders. While H&F will maintain a controlling interest in HUB, the company’s management team will still possess a substantial equity position. Furthermore, Altas will continue as a significant minority shareholder and board member, and LGP will also be joining the board.
Advisors and Counsel
For this transaction, HUB was advised exclusively by Morgan Stanley & Co. LLC. Legal advice was provided by Simpson Thacher & Bartlett LLP, and market research assistance came from MarshBerry. On the other hand, LGP had Barclays as their exclusive financial advisor and Latham & Watkins LLP as their legal counsel.
About HUB International
HUB International Limited, headquartered in Chicago, Illinois, stands out as a premier global insurance broker offering a wide range of financial services. These include risk management, insurance, employee benefits, retirement, and wealth management products and services. With a strong presence across North America and boasting over 17,000 employees, HUB is dedicated to providing tailored solutions and unwavering support, ensuring their clients are well-prepared for the future.
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