Ardonagh gets major investment from PE funds, ADIA & institutions

Ardonagh gets major investment from PE funds, ADIA & institutions

David Ross, Group CEO, commented on the news, “The recommitment of both HPS and MDP continues a partnership that has actually assisted Ardonagh grow into a global broking powerhouse. Ardonagh has ample chance to continue to build on its platform and increase its reach and profitability, and by increasing our investment today we are reaffirming our dedication to continue supporting those efforts. We are proud to be an essential investor behind the Ardonagh workforce and look forward to our continued partnership, together with HPS and our and their brand-new co-investors.”

The Ardonagh Group, a UK headquartered independent insurance broking, servicing, management and underwriting business and the owner of reinsurance broker Inver Re, has protected a major investment that values the firm at $7.5 billion.The institutional quality of the financial investment support is a vote of confidence in the broking platform Ardonagh is constructing out, especially since its acquisition of the BGC insurance coverage and reinsurance broking operations, including Corant Global and now its build-out of the Inver Re platform too.
The company this early morning announced a considerable brand-new equity investment, led by existing long-lasting investors Madison Dearborn Partners, LLC and HPS Investment Partners, along with brand-new co-investors through accounts managed by MDP and HPS, that consist of a completely owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and a variety of other large worldwide organizations.
The Abu Dhabi Investment Authority (ADIA) has actually been expanding its interests in insurance and reinsurance of late, both on a personal equity basis and through its insurance-linked securities (ILS) portfolio.
Funds under the management of Madison Dearborn Partners, LLC and HPS Investment Partners will both increased their shareholding in Ardonagh and HPS will likewise reinvest in the Group.
The co-investors, consisting of the ADIA subsidiary and other large international organizations, are set to get more than $1 billion in equity as part of the transaction, which values Ardonagh at $7.5 billion.
David Ross, Group CEO, talked about the news, “The recommitment of both HPS and MDP continues a partnership that has assisted Ardonagh become a worldwide broking powerhouse. Connection of ownership after 6 years is the optimum outcome for us, permitting management to focus exclusively on the execution of our strategy and the preservation of the distinct Ardonagh culture. We are also thrilled to welcome HPS and MDP co-investors to the Group. Their international, long-term aspirations are completely aligned with our own and those of our other shareholders, protecting our goal of being a personal business for many years to come. Today is a major turning point in Ardonaghs journey and the accomplishment belongs to our greatest possession– each of our people.”
Ardonagh has become a leading 20 international insurance broker, putting $13 billion of premiums throughout its organization and throughout the complete spectrum of insurance coverage and reinsurance risks.
With 8,000 staff members throughout 100 locations the company continues to grow too, especially through its acquisitions.
At September 30th 2021, Ardonaghs income over the last twelve months was $1.5 billion, while changed EBITDA reached $530 million.
Vahe Dombalagian, Managing Director and Co-Head of the MDP Financial & & Transaction Services team, stated, “We have supported Ardonagh considering that the formation of the Group and because time, weve witnessed significant growth and diversification. Ardonagh has adequate opportunity to continue to develop on its platform and increase its reach and success, and by increasing our investment today we are declaring our commitment to continue supporting those efforts. We are proud to be a key investor behind the Ardonagh labor force and look forward to our continued partnership, along with HPS and our and their new co-investors.”
Scot French, Governing Partner of HPS, added, “Throughout our multi-year relationship going back to their first day at the Group, we have actually steadfastly supported the Ardonagh management teams vision to build a best-in-class, worldwide insurance coverage brokerage platform. We are thrilled to remain significant financiers in the Group as they continue to perform on their growth method.”
Hamad Al Dhaheri, Executive Director, Private Equities Department, ADIA, likewise commented, “We are pleased to partner with Ardonagh, together with HPS and MDP, to support its strong management team in executing its international growth strategy. This investment continues to construct on our method and track record of buying market-leading businesses across the insurance coverage market value chain.”

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