The international group of insurance intermediaries Hyperion is said to be in preliminary talks for a sale of a minority stake.
According to Reuters sources, the london-based company called on investment bank goliath morgan stanley in its search for growth capital. The report states that a quarter of the shares will potentially be sold to a long-term investor such as a sovereign wealth fund.
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A deal, which could value Hyperion at over £ 1 billion (over US $ 1.32 billion), would see all existing investors cut their stake. These include New York-based private equity firm General Atlantic, which has a stake of around 35%.
Morgan Stanley, Hyperion and General Atlantic have neither confirmed nor denied the report.
Hyperion CEO David Howden spoke to the Managing General Agents’ Association in London last July and spoke about the importance of product distribution.
“It’s all about distribution. If you fail to market your product, then don’t bother, ”Howden said. “We have to see how we can deliver value to the customer. What we see now is a delineation. Old things devalue and a new space opens up.
Hyperion – whose main brands are DUAL and Howden, as well as RKH Specialty and RKH Reinsurance – employs approximately 3,800 people and has offices in Europe, the Middle East, Asia-Pacific and the Americas.
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