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Warburg Pincus Acquires McGill and Partners for $2.2 Billion

18 December 2024
insurancebusinessmag.com
McGill and Partners, an independent global specialty re/insurance broker, has been included in a $2.2 billion multi-asset continuation fund established by private equity firm Warburg Pincus. This marks Warburg Pincus's first continuation fund, and the firm has been a cornerstone investor in McGill and Partners since 2019.

The continuation fund features a diversified portfolio of successful companies with significant growth potential. Its primary goal is to provide McGill and Partners and other portfolio companies with the necessary resources to enhance value creation. This inclusion highlights McGill and Partners' development and the effectiveness of its business strategy, which emphasizes talent acquisition over traditional business acquisitions.

Steve McGill, the founder and CEO of McGill and Partners, expressed that the inclusion in the fund is a testament to the firm's progress and future growth potential. He noted that as the fastest-growing global specialty firm in the industry, the recognition from high-quality investors in the continuation fund is exciting. McGill looks forward to continuing the partnership with Warburg Pincus as the firm strengthens its position in the market.

Since Warburg Pincus's initial investment, McGill and Partners has experienced significant expansion, now operating 11 offices across three continents and employing over 550 people. Notably, each employee holds an equity stake in the business, a structure that will remain intact after the fund's closing.

The continuation fund is structured to maximize value for its participating companies while aligning with Warburg Pincus's long-term growth objectives. Earlier this year, McGill and Partners announced plans to expand into the Nordic region by opening a new branch office in Sweden, pending regulatory approvals. This move is part of the company's broader strategy to enhance its capabilities in key specialties and solidify its presence in the European market.
Tags
Companies
Keywords
financial services
reinsurance
brokerage
Industry
financial services
Type
deal news
Strategy
large cap
Geography
usa

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