Warburg already sold McGill and Partners once. To itself.
EQT is paying $2 billion for the specialty broker Warburg seeded in 2019. The more interesting sale happened in December 2024, and the buyer was Warburg.
EQT has agreed to buy a majority stake in McGill and Partners at a $2.0 billion valuation, handing Warburg Pincus a full exit from a specialty (re)insurance broker that did not exist eight years ago. The deal was announced on Thursday and is expected to close in the first half of 2027. Founder and CEO Steve McGill stays, chairman John Lloyd stays, management reinvests alongside EQT, and every employee collects something on the way through, courtesy of the firm's all-colleague ownership structure.
