Swedish investment group EQT has announced a definitive agreement to acquire a majority stake in specialty insurance and reinsurance broker McGill and Partners from Warburg Pincus for a total of $2.0 billion. The transaction, which is subject to customary conditions and approvals, is expected to close in the first half of 2027.
McGill and Partners, founded in 2019 by former Aon Group President Steve McGill, will continue to be led by him as CEO, and he will retain a significant ownership stake. The firm's employees are also expected to benefit financially from the transaction through an all-employee ownership structure. EQT has committed to a new Equity Participation Plan to ensure long-term alignment.