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Direct Investment  + Financial Advisory  + M&As  |  May 19, 2025
Hub International Secures $1.6B Minority Investment, Valued at $29B 
Joe Palmisano
By: Joe Palmisano

Hub International Secures $1.6B Minority Investment

Chicago-based Hub International has secured a $1.6 billion minority equity investment, increasing its enterprise valuation to $29 billion. The investment, led by T. Rowe Price Investment Management, Alpha Wave Global, and Temasek, includes participation from new and existing investors. 

Since 2013, Hub’s valuation has grown from $4.4 billion to $29 billion, with revenue rising from $1.1 billion to $4.8 billion in 2024. CEO Marc Cohen emphasized the company’s focus on industry-specific solutions, risk management, innovation, proprietary products, and acquisitions. 

Hellman & Friedman will maintain control, with management retaining a substantial equity stake. Altas Partners and Leonard Green & Partners remain significant minority shareholders with board representation. Hellman & Friedman Partner Hunter Philbrick praised Hub’s focus and growth as the fifth largest broker globally and a leader in the middle market. 

Following the Liquid Private Placement approach from 2024, proceeds will fund growth, acquisitions, and balance sheet management, as existing shareholders showed limited interest in selling. 

Morgan Stanley and Goldman Sachs served as financial advisors, with Simpson Thacher & Bartlett as legal counsel. The deal is expected to close by May’s end. 

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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