Hyperion finds new investor as 3i sells after doubling money

HYPERION Insurance Group, the international insurance intermediary group, has a new 30 per cent shareholder.

General Atlantic, a global growth equity firm, has bought all of 3i’s shareholding, doubling 3i’s money, and 80 per cent of BP Marsh’s shares.

The transaction, first revealed in City A.M., values Hyperion at around £250m.

Hyperion management and employees continue to hold over 60 per cent of shares in the company and no shares will be sold by management or employees as part of the transaction.

Hyperion CEO David Howden said General Atlantic would be a long-term, collaborative, large minority investor. “They have an outlook and ethos that match ours and our ambitions very well. “

Howden said the group planned to do an IPO when it was ready and that would be in London.

“We’ll only go when we’re ready but we would definitely IPO in London. A third of our staff are in Asia but we are UK headquartered and there ought to be an alternative to JLT on the London market.”

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