McGill and Partners, the independent specialty insurance and reinsurance broker, has been chosen by Warburg Pincus, a global private equity firm, to join its inaugural multi-asset continuation fund.
Warburg Pincus, which played a key role in McGill and Partners’ establishment as a cornerstone investor in 2019, has created this new fund, which consists of a diverse portfolio of assets that have shown substantial success and high potential for growth.
The $2.2 billion continuation fund will offer McGill and Partners, along with the other companies included in the fund, the resources and opportunities to enhance value creation, so is effectively a capital raise for the brokerage.
This significant milestone underscores McGill and Partners’ appeal to investors, particularly highlighting the firm’s specialised approach and its strategy of growth through talent acquisition rather than acquiring businesses.
It also marks a major step in the company’s evolution, confirming the substantial value that has already been realised, acknowledged, and validated by the respected investors backing the continuation fund.
The inclusion further underscores the strength of McGill and Partners’ ongoing partnership with Warburg Pincus and the private equity firm’s unwavering commitment to the business. Additionally, it emphasises the robust growth prospects and opportunities that lie ahead for McGill and Partners.
With 11 offices across three continents and a team of over 550 colleagues, all of whom hold an equity stake in the business, McGill and Partners is well-positioned for continued expansion. Following the closing of the continuation fund, employees will retain their significant ownership in the company.
Steve McGill, Founder and CEO of McGill and Partners, said: “This is a terrific endorsement of the progress our talented colleagues have made in growing our business from scratch in the last five years.
“As the fastest-growing global specialty firm in the industry, we are excited by the incredible prospects for further growth, which has been recognised by the high-quality investors in this prestigious continuation fund. We look forward to continuing to partner with Warburg Pincus as we go from strength-to-strength.”
