Private equity investment values London broker at £275m

Private equity investor BP Marsh and Partners has purchased an additional 2% stake in London market broker Pantheon Specialty Group.

The deal, announced today (2 April 2026), is based on an equity valuation of £275m for the broker, which reported a 2025 revenue of £23.8m.

Pantheon, which launched in 2023, focuses on marine, global property, innovation and technology and delegated authorities across multiple lines.

The purchase of shares from founders Robert Dowman and Michael Lee raises BP Marsh’s ownership to 41%, following a 25% purchase in 2023 and suite of incremental investments in the following years.

Strong endorsement

Dowman, who serves as chief executive at Pantheon, said: “BP Marsh’s continued support is a strong endorsement of Pantheon’s development since launch.

“We have made significant progress in building a diversified specialty broking platform, broadening our capabilities and attracting a high-quality team, which together have driven our growth and performance.

“With strong foundations in place and clear momentum across the business, we remain focused on scaling the platform and delivering long-term value for our clients and partners.”

Dan Topping, chief executive at BP Marsh, added: “Since our initial investment, Pantheon has delivered excellent progress, combining strong financial performance with the successful execution of its growth strategy.

“The business has rapidly scaled its platform, expanded its product offering and demonstrated the strength of its earnings model.

“We have strong confidence in Pantheon’s long-term potential and look forward to supporting the business as it continues to scale.”