Hellman & Friedman Buys Insurer From Apax In $4.4B Deal

Law360, New York (August 5, 2013, 4:21 PM EDT) -- Chicago-based global insurance brokerage Hub International Inc., an Apax Partners portfolio company, has been sold to New York private equity firm Hellman & Friedman LLC in a deal that values the insurer at roughly $4.4 billion, Hub announced Monday.

Hellman funds will take over a majority stake in the company, with Hub senior management continuing hold a significant equity position. The deal is expected to close by the end of the year.

Apax and Morgan Stanley Investment Management Inc. took Hub private in June 2007 in...
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