CDPQ invests more than US$400m in Hyperion Insurance Group

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Hyperion Insurance Group today announced that Caisse de dépôt et placement du Québec (CDPQ), the long-term institutional investor, has agreed to acquire a significant minority stake in the Group. CDPQ will invest more than US$400m to provide new growth equity as well as liquidity to existing shareholders. CDPQ will join Hyperion as a long-term growth partner alongside General Atlantic. Hyperion management and employees will remain the largest shareholder group.For the financial year ended 30 September 2017 the Group reported preliminary unaudited revenue of £535m and EBITDA of £152m on a bank reported basis. Hyperion will, tomorrow, also launch a debt refinancing, which will extend and reprice its existing Term Loan facility to 2024 and include the issuance of additional primary debt. In addition, Hyperion will extend its existing undrawn Revolving Credit Facility. In conjunction with the CDPQ investment, this will leave Hyperion well placed to execute on its medium term growth strategy from a strongly capitalised position and with significant free cash, providing over US$300m of additional capital for future investments.Selective acquisitions with a strong cultural fit will continue to play an important role in Hyperion’s growth strategy and the Group has a number of deals in the pipeline. false false false Morgan Stanley & Co LLC acted as financial advisor to Hyperion and General Atlantic for the transaction and Weil, Gotshal & Manges served as legal advisor. Linklaters LLP served as legal advisor for CDPQ.The equity transaction is subject to regulatory consents.The Board expects to approve Hyperion’s FY17 consolidated audited accounts shortly. false false false ABOUT HYPERION Hyperion is a leading international insurance group with employee ownership at its heart. It comprises broking divisions Howden and RKH, and underwriting division DUAL. Hyperion’s businesses operate across Europe, Asia, the Middle East, Latin America, the USA, Australia and New Zealand, employing over 3,800 people in 37 countries.For more information, please visit www.hyperiongrp.com. ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2017, it held $286.5 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages. ABOUT GENERAL ATLANTIC General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 110 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information, visit www.generalatlantic.com.