Ardonagh Set to Raise Up to $2.5 Billion to Fuel Expansion Spree

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Leonard Kehnscherper

Tue, Mar 25, 2025, 8:04 AM 1 min read

(Bloomberg) -- Ardonagh Group Ltd. is nearing a woody to rise arsenic overmuch arsenic $2.5 cardinal from investors to assistance substance the backstage equity-backed security broker’s accelerated growth.

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The London-based steadfast is expected to adjacent the capital-raise this summertime successful an oversubscribed process, according to radical with cognition of the matter. The proceeds volition beryllium utilized to money maturation opportunities including imaginable acquisitions, the radical added, asking not to beryllium identified arsenic the fundraising is not public.

The backing circular comes aft PE steadfast Stone Point Capital agreed to put successful the concern successful December successful a transaction that valued the institution astatine astir $14 billion.

A typical for Ardonagh, which is majority-owned by Madison Dearborn Partners, declined to comment.

Ardonagh’s accelerated ascent represents a melodramatic alteration successful fortunes for a concern that roseate from the ashes of Towergate, an security broker rescued by creditor HPS Investment Partners aft a indebtedness fueled M&A splurge. In 2017, Towergate merged with 3 different security brokers and services businesses to signifier Ardonagh.

With the assistance of backers Madison Dearborn Partners, and aboriginal the Abu Dhabi Investment Authority, it has go 1 of the industry’s biggest players nether Chief Executive Officer David Ross.

Ardonagh has already bought a drawstring of assets successful markets including Brazil, Spain and Italy. Last year, it purchased Australia’s PSC Insurance Group for an implied equity worth of A$2.3 cardinal ($1.5 billion), taking it backstage and combining it with its Envest business.