Altas Partners wraps up minority investment in insurer Hub

Canadian long-term private equity firm Altas Partners has completed its minority investment in Hub International Ltd, a Chicago-based insurance brokerage. The deal, announced last month, implies an enterprise value for Hub of more than US$10 billion. Altas joins U.S. private equity firm Hellman & Friedman (H&F), the company's largest shareholder. H&F acquired Hub in 2013 for about US$4.4 billion. Hub was established in 1998 with the merger of 11 Canadian insurance brokerages.

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