Hub International targets around $3bn in IPO – report

Hub International is looking to rise astir $3bn successful an archetypal nationalist offering (IPO) that could motorboat arsenic soon arsenic this year, Bloomberg reported, citing sources.

The Hellman & Friedman-backed security broker filed confidentially for the listing successful precocious June.

When it filed, Hub said the proceeds would beryllium utilized for wide firm purposes, which could see indebtedness repayment.

According to the report, the institution is moving with Goldman Sachs Group and Morgan Stanley connected the offering, with Bank of America, Barclays, BMO Capital Markets and JPMorgan besides involved.

The study said discussions are continuing and details, including the size of the deal, could change.

In May 2025, Hub secured a number concern of astir $1.6bn from a radical of caller and existing investors led by T. Rowe Price Investment Management, Alpha Wave Global and Singapore authorities capitalist Temasek, astatine an endeavor worth of $29bn.

The study said the offering would adhd to a bid of backstage equity-backed listings during what Bloomberg-compiled information shows is the champion half-year connected grounds for US IPOs.

Hub would beryllium among ample backstage equity-backed candidates successful the listing pipeline aft what the study described arsenic a comparatively quiescent play for ample IPOs successful caller years.

Earlier this week, Csquare, a Brookfield-backed information centre company, began selling an IPO that could rise arsenic overmuch arsenic $1.35bn.

Last week, Jersey Mike's Subs, backed by Blackstone, and Cumberland Farms, backed by TDR Capital, some filed publically for stock sales.

According to its website, Hub provides spot and casualty, reinsurance, beingness and health, and worker benefits services, and has astir 21,000 employees crossed 570 offices successful North America.

Hub was formed successful 1998 done the merger of 11 Canadian brokerages. It listed connected the Toronto Stock Exchange successful 1999 and connected the New York Stock Exchange successful 2002.

In 2007, the institution was taken backstage aft Apax Partners and Morgan Stanley agreed to get it erstwhile its marketplace capitalisation had exceeded $1bn.

Hellman & Friedman acquired Hub from those owners successful 2013 successful a $4.4bn transaction.

"Hub International targets astir $3bn successful IPO – report" was primitively created and published by Life Insurance International, a GlobalData owned brand.