Altas Partners wraps up minority investment in insurer Hub

Canadian long-term private equity firm Altas Partners has completed its minority investment in Hub International Ltd, a Chicago-based insurance brokerage.

The deal, announced last month, implies an enterprise value for Hub of more than US$10 billion.

Altas joins U.S. private equity firm Hellman & Friedman (H&F), the company’s largest shareholder. H&F acquired Hub in 2013 for about US$4.4 billion.

Hub was established in 1998 with the merger of 11 Canadian insurance brokerages.

(This post was updated to clarify Altas’ investment, which gave the firm a minority stake alongside existing investor H&F.)


Hub International Completes Minority Investment by Altas Partners

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

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

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

Media: Marni Gordon
Phone: 312-279-4601