Insurance broker Hub International Holdings Inc. is seeking to raise about $3 billion in its initial public offering, according to people familiar with the matter.
The Hellman & Friedman-backed company is targeting going public as soon as this year, some of the people said, asking not to be identified as the information isn’t public. Hub filed confidentially for the listing in late June.
The company is working with Goldman Sachs Group Inc. and Morgan Stanley on the listing, the people said. Bank of America Corp., Barclays Plc, BMO Capital Markets and JPMorgan Chase & Co. are also working on the offering, they said.
Discussions are ongoing and details of the IPO such as the size could change, the people said. Representatives for Hub, Hellman & Friedman, Goldman Sachs, Morgan Stanley, Bank of America, Barclays, BMO Capital Markets and JPMorgan declined to comment.
In May 2025, Hub secured a minority investment of about $1.6 billion from a group of new and existing investors led by T. Rowe Price Investment Management Inc., Alpha Wave Global and Singapore state investor Temasek at a $29 billion enterprise value, according to a statement at the time.
The offering could provide a much-needed boost to private equity firms looking to list portfolio companies amid an IPO boom, which has resulted in the best half-year ever for US listings, data compiled by Bloomberg show.
Hub would join several large PE-backed candidates in the pipeline, after being relatively absent from the ranks of the biggest IPOs in recent years.
Csquare Inc., a data center company backed by Brookfield Corp., began marketing an IPO which could raise as much as $1.35 billion on Monday. Jersey Mike’s Subs Inc., the sandwich chain backed by Blackstone Inc., and TDR Capital-backed convenience-store operator Cumberland Farms Ltd. publicly filed for first-time share sales on Friday.
Hellman & Friedman was among the firms backing Medline Inc., whose listing raising $7.2 billion was 2025’s largest. Shares have climbed nearly 50% since going public in December.
Photo: Confetti on the ground during an initial public offering (IPO). Photographer: Michael Nagle/Bloomberg
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