Todd Boehly-Backed Accelerant, Holders Raise $724 Million in IPO

Accelerant Holdings and some of its backers raised $724 million in an upsized US initial public offering priced above the marketed range, the latest insurance-related listing to meet with strong demand.

The specialty insurance marketplace operator and investors including funds affiliated with Altamont Capital Partners enlarged the deal to 34.5 million shares at $21 apiece, according to a statement Wednesday. Bloomberg News reported the expected pricing earlier.

The price and upsize give Accelerant a market value of about $4.7 billion, based on the outstanding shares.

The shares were offered in a range of $18 to $20 each, an earlier ...