Key facts
- EQT is investing $2 billion in specialty reinsurance broker McGill and Partners.
- The investment aims to fuel McGill and Partners' organic growth and expand its presence in US and international markets.
- McGill and Partners was founded in May 2019 and has grown to over $250 million in revenue across seven countries.
- All 600 employees of McGill and Partners will benefit financially from the transaction due to the firm's all-employee ownership structure.
- EQT plans to deepen McGill and Partners' ties to the Lloyd's of London market.
Specialty London-based reinsurance broker McGill and Partners has agreed to a $2 billion investment from Swedish private equity firm EQT. Founded in May 2019 by Steve McGill and John Lloyd, the firm handles high-risk insurance for corporate and institutional clients and has expanded to seven countries with 600 employees and revenues exceeding $250 million. EQT's investment, acquired from Wall Street firm Warburg Pincus, is intended to fuel McGill and Partners' organic growth and expand its reach in the US and international markets, while also strengthening its connection to the Lloyd's of London market. EQT highlighted its commitment to an equity participation plan, ensuring all 600 employees will financially benefit from the transaction due to the firm's all-employee ownership structure. McGill described the deal as a significant milestone, celebrating the firm's rapid growth from an idea to a global specialty enterprise.