Hub International Limited (HUB), a leading global insurance brokerage, has announced that it has entered into an agreement with Leonard Green & Partners, L.P. (LGP), a Los Angeles-based private equity firm. With a current total enterprise valuation of US$23 billion, which represents the largest enterprise value to date for a private insurance broker, HUB expects to receive a substantial minority investment from funds managed by LGP.
Latham & Watkins LLP represents LGP in the transaction with a corporate deal team led by New York partners John Giouroukakis and Eyal Orgad, with associate Saïd Bakir.
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