Hub
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Yesterday, Inside P&C revealed that the secondary deal takes the total equity raised to $4.1bn, with ~30% of the equity set to change hands. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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After dropping out of the strategic process in the spring, Blackstone has now come in as an investor.
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The question of how to finance the private brokers no longer begins and ends with a PE flip.
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Hub International has tapped former Aon national property broking officer Blake Giannisis as its North American property practice leader.
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The increased facility will be used for “additional acquisitions while fueling investments in strategic initiatives that drive organic growth”, the company said.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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When a Grade A franchise like Hub refis at this kind of valuation, the read across to other assets is highly negative.
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Inside P&C revealed in late March that Leonard Green was one of the two remaining parties in the process, with an enterprise value of under $25bn, based on bids of ~16x just under $1.5bn of Ebitda.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Both of them bring decades of experience in the private client industry.
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Other names believed to have looked at the asset include CD&R, CVC and Hg, as the process reaches its latter stages.
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