Buyout firm Apax Partners and Morgan Stanley's private equity arm are exploring a sale of Chicago-based insurance brokerage Hub International that could be valued at around $2 billion, two people familiar with the matter said this week.
The potential sale of Hub would come six years after Apax and Morgan Stanley Principal Investments took the company private for $1.8 billion, including $145 million of debt.
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Representatives for Hub and Morgan Stanley declined to comment. Apax did not immediately respond to requests for comment.
(Reporting by Jessica Toonkel and Soyoung Kim in New York; Editing by Tim Dobbyn)