Global insurance brokerage Hub International Limited has announced the completion of a substantial minority investment by funds managed by Altas Partners. The transaction implies a total enterprise value for Hub of more than $10 billion.
Funds managed by Hellman & Friedman (H&F), a San Francisco-based private-equity investment firm, remain the largest investor in Hub, the company said. Hub’s management team also continues to hold a significant equity position.
Altas Partners is a Toronto-based investment firm with a long-term orientation. The firm focuses on acquiring significant interests in market-leading businesses.
Hub, headquartered in Chicago, provides property and casualty, life and health, employee benefits, investment and risk management products and services. The company boasts more than 11,000 employees in offices throughout North America.