Ardonagh ‘close to securing up to $2.5bn from investors’

Ardonagh is reportedly close to raising as much as $2.5bn from investors in a deal that would support its expansion.

According to Bloomberg, which cited sources familiar with the matter, the broker is expected to close a capital-raise this summer in an oversubscribed process.

The publication added that proceeds would be used to fund growth opportunities, including potential acquisitions.

Ardonagh declined to comment when approached by Insurance Times.

Major investment

This comes after Ardonagh secured a major investment from funds managed by US-based private equity firm Stone Point Capital.

The deal, which values Ardonagh at $14bn (£11bn), is expected to be completed in mid-2025.

Upon completion, Stone Point will become a significant shareholder in the broker, alongside Madison Dearborn Partners (MDS), HPS Investment Partners and co-investors.

With the added support of Stone Point, Ardonagh said it “remains well placed to capture numerous growth opportunities in the global P&C insurance market through its platform of businesses”.

David Ross, chief executive at Ardonagh, added: “Stone Point’s investment in the group marks a new phase in our extraordinary journey over the past few years to become the $14bn (£11bn) business we are today.

“Its support reflects conviction in the strength of Ardonagh’s business and continued momentum and redoubles our commitment to independence in a consolidating market.”