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Dec 18, 2025 4:00 PM

Howard Hughes Shifts Gears, Buys Vantage In $2.1 Billion Insurance Move

Howard Hughes Holdings Inc. (NYSE:HHH) stock rose Thursday after the company disclosed that it reached a definitive deal to fully acquire Vantage Group Holdings Ltd. for $2.1 billion in cash.

Founded in 2020, Vantage is a privately held, leading specialty insurance and reinsurance company, backed by investment firms The Carlyle Group Inc. (NASDAQ:CG) and Hellman & Friedman.

The buyout will serve as the cornerstone of Howard Hughes’ transformation into a diversified holding company.

Monetary Details

The acquisition price represents approximately 1.5 times Vantage’s year-end 2025 book value and an implied multiple of roughly 1.4 times price-to-book value. 

The company expects to fund the acquisition using cash on hand of around $1.5 ...