News

Toronto-based investment firm Altas Partners has made a minority investment in Hub International limited, an insurance brokerage in Chicago. The investment puts Hub at an enterprise valuation of over $10 billion. As a result of the transaction, Hellman & Friedman will continue to hold a “significant” equity stake in Hub.

PRESS RELEASE

CHICAGO, Nov. 28, 2018 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, today announced the successful completion of a substantial minority investment from funds managed by Altas Partners (Altas), a long-term oriented investment firm based in Toronto, Ontario. Funds managed by Hellman & Friedman (H&F) remain the largest investor in Hub and the company’s management team continues to hold a significant equity position. The transaction implies a total enterprise value for Hub of over $10 billion.

About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.

About Altas Partners
Altas Partners is an investment firm with a long-term orientation focused on acquiring significant interests in high-quality, market-leading businesses in partnership with outstanding management teams. Key elements of the firm’s approach include responsible capital structures, active ownership through strategic and operational support and an emphasis on sustainable value creation. Altas invests on behalf of endowments, foundations, public pension funds and other institutional investors. For more information, please visit www.altaspartners.com.

About Hellman & Friedman
Hellman & Friedman is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised over $35 billion of committed capital. The firm focuses on investing in outstanding business franchises and serving as a value-added partner to management in select industries including financial services, business & information services, software, healthcare, internet & media, retail & consumer, and industrials & energy. For more information, please visit www.hf.com.