A gaggle led by Bain Capital’s special-situations arm is in talks to take a position as much as $2bn in insurance coverage dealer Acrisure, reported Bloomberg, citing sources.
The funding is predicted to comprise most well-liked fairness, sources advised the publication. The sources added that the phrases of the deal haven’t been finalised and will nonetheless change.
Based on one of many sources, a accomplished deal would permit BDT & MSD Companions, which led a $3bn senior most well-liked inventory funding in Acrisure in 2021, to redeem a portion of its present most well-liked stake.
Representatives for Acrisure, Bain Capital and BDT & MSD declined to remark, Bloomberg mentioned.
Acrisure connects companies and people with quite a lot of insurers and describes itself as a financial-technology firm.
Primarily based in Grand Rapids, Michigan, it studies annual income of greater than $4.8bn, based on its web site.
Different traders embrace a subsidiary of the Abu Dhabi Funding Authority, Guggenheim Investments, and Oak Hill Advisors.
Earlier this yr, Acrisure divested its 5 common companies to US-based insurer Warner Pacific and agreed on a partnership.
Earlier this month, Bain Capital agreed to offload UK-based digital insurer Esure to Ageas, a Belgian insurance coverage group, for an approximate £1.3bn ($1.7bn).
Moreover, Bain Capital disclosed an funding of $825m to amass a 9.9% stake in Lincoln Monetary. This transaction included the sale of roughly 18.8 million shares of Lincoln’s widespread inventory at $44 every, topic to regulatory approvals.
