Specialist broker secures increased investment

Private equity investor BP Marsh has increased its shareholding in broker Pantheon Specialty.

BP Marsh first invested in the broker in June 2023 for a 25% stake, with this increasing to 32% in May 2024.

Now, BP Marsh has acquired a further 5% share from eight members of Pantheon’s management team for a cash consideration of £12.5m.

This takes its total shareholding to 37%.

The transaction will enable Pantheon’s management team to partially liquidate a portion of their shareholding, providing them with personal liquidity, while still retaining a significant majority stake.

Dan Topping, BP Marsh’s chief investment officer, said: “In line with BP Marsh’s mantra, we believe that the acquisition of an additional 5% stake in Pantheon offers a well-earned liquidity event for Pantheon’s management team, while also giving BP Marsh the opportunity to increase its investment in a rapidly growing company.

“We are excited to continue our work with Pantheon’s management in the coming year, supporting the company’s ongoing growth, which should, in turn, generate significant returns for our shareholders.”

Financial performance

The increased investment comes after Pantheon forecasted an adjusted earnings before interest, taxes, depreciation and amortisation (ebitda) in excess of £16m for the year to 31 December 2024.

“Both the Pantheon team and BP Marsh remain confident that this positive momentum will continue into 2025 and beyond,” a statement said.

Robert Dowman, founder and chief executive at Pantheon, said: “The team here is immensely proud of what Pantheon has achieved since launching the business.

“BP Marsh’s support has been instrumental to this success, allowing us to quickly drive growth.

“I see this liquidity event as a continuation of BP Marsh’s commitment and support for Pantheon, rewarding management for their achievements while ensuring that all shareholders remain focused on the long-term success of the business for many years to come.”