Broker secures major backing as it joins $2.2bn continuation fund

Specialty broker McGill and Partners has been selected to join a new multiasset continuation fund.

The $2.2bn fund, created by private equity firm Warburg Pincus, aims to provide certain companies the opportunity and resources to maximise value creation.

According to a statement, firms selected for the fund “have demonstrated significant success to date and high growth potential”.

McGill and Partners said being chosen reflected its development and the appeal of its strategy, which focuses on the acquisition of talent rather than businesses.

Steve McGill, founder and chief executive at McGill and Partners, said: “As the fastest-growing global specialty firm in the industry, we are excited by the incredible prospects for further growth, which has been recognised by the high-quality investors in this prestigious continuation fund.

“We look forward to continuing to partner with Warburg Pincus as we go from strength-to-strength.”

Staff equity 

The broker has 11 offices across three continents and over 550 colleagues. Each staff member has an equity stake in the business.

Employees will retain their stake in the business following closing of the continuation fund.

McGill said: “This is a terrific endorsement of the progress our talented colleagues have made in growing our business from scratch in the last five years.”