Insurance broker Hub International Holdings Inc. is seeking about $3 bn through an initial public offering, according to Beinsure. The Hellman & Friedman-backed company filed confidentially for a listing in late June and aims to go public during 2026.
People familiar with the matter said the details are not public. The IPO size remains under discussion, and the final structure isn’t set.
Goldman Sachs Group Inc. and Morgan Stanley are leading the offering. Bank of America Corp., Barclays Plc, BMO Capital Markets and JPMorgan Chase & Co. are also working on the transaction.
Hub, Hellman & Friedman, and the underwriting banks declined to comment. Discussions remain active, with deal terms still subject to revision.
Hub secured about $1.6 bn in minority funding during May 2025. T. Rowe Price Investment Management Inc., Alpha Wave Global and Singapore state investor Temasek led the investor group, which valued the company at a $29 bn enterprise value.
The proposed offering arrives during a strong period for U.S. IPOs. Bloomberg data show the first half of 2026 delivered the best half-year for U.S. listings on record, giving private equity firms a more favorable exit route for portfolio companies.
According to Beinsure, Hub would enter a group of sizable private equity-backed businesses preparing public-market debuts. Large sponsor-backed IPOs had been scarce among major listings in recent years, though the pipeline is filling up fast.
Csquare Inc., the Brookfield Corp.-backed data-center company, began marketing an IPO. The deal seeks as much as $1.35 bn.
Jersey Mike’s Subs, backed by Blackstone, publicly filed for a first-time share sale on Friday. Cumberland Farms, the convenience-store operator backed by TDR Capital, filed on the same day.
Hellman & Friedman also backed Medline Inc., whose $7.2 bn listing became the largest IPO of 2025. Medline shares have risen almost 50% since the company went public in December.
