Hub International Limited, a Chicago, IL-based insurance brokerage, received a minority investment from Altas Partners.
The amount of the deal was not disclosed. Funds managed by Hellman & Friedman (H&F) will remain the largest investor in Hub and the company’s management team will continue to hold a significant equity position.
The transaction implies a total enterprise value for Hub of over $10 billion.
Led by Marc Cohen, President and CEO, Hub International is a full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services.
The company’s network has more than 11,000 employees in offices located throughout North America.
The transaction is expected to close before the end of 2018 and is subject to customary closing conditions and regulatory approvals.