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Direct Investment  + Financial Advisory  + M&As  |  May 19, 2025
Hub International Secures $1.6B Minority Investment, Valued at $29B 
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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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