Independent global specialty re/insurance broker McGill and Partners has been included in a US$2.2 billion multi-asset continuation fund created by private equity firm Warburg Pincus.
This is the first fund of its kind for Warburg Pincus, a cornerstone investor in McGill and Partners since 2019.
The continuation fund comprises a diversified portfolio of companies that have demonstrated significant success and growth potential. It aims to provide McGill and Partners, along with other portfolio companies, the resources to enhance value creation.
Inclusion in the fund reflects McGill and Partners' development and the appeal of its business strategy, which focuses on talent acquisition rather than business acquisitions. The move also underscores the strength of its partnership with Warburg Pincus and highlights the firm's growth trajectory since its inception in 2019.
Steve McGill (pictured above), founder and CEO of McGill and Partners, commented on the inclusion, describing it as recognition of the firm’s progress and the potential for continued growth.
“As the fastest-growing global specialty firm in the industry, we are excited by the incredible prospects for further growth, which has been recognized 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,” McGill said.
Since Warburg Pincus’s initial investment, McGill and Partners has expanded significantly, now operating 11 offices across three continents with over 550 employees. Each employee holds an equity stake in the business, which will remain in place following the fund’s closing.
The continuation fund’s structure is designed to maximize value for participating companies while aligning with the long-term growth goals of Warburg Pincus.
Earlier this year, McGill and Partners announced plans to expand into the Nordic region with the opening of a new branch office in Sweden, subject to regulatory approvals.
The company explained that the move is part of its broader strategy to enhance its capabilities across key specialties and strengthen its position in the European market.
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