Trucordia has disclosed a $1.3bn funding from personal fairness agency Carlyle, valuing the insurance coverage brokerage at $5.7bn.
The transaction is predicted to conclude throughout the present month.
This funding is about to offer Trucordia with the monetary leeway essential to pursue numerous initiatives. It’ll additionally streamline the corporate’s governance framework by enabling the repurchase of fairness held by present minority traders.
Trucordia chief monetary officer Brandon Grey said: “The funding from Carlyle will scale back Trucordia’s leverage, fortify our steadiness sheet and improve our monetary flexibility. We’re nicely positioned to proceed making the appropriate investments in our enterprise shifting ahead.”
Primarily based in Lindon, Utah, the corporate affords insurance coverage merchandise together with industrial, private, life and worker advantages insurance coverage.
Carlyle’s Credit score Alternatives staff, a part of the World Credit score platform, led the funding with a technique that targets household owned, founder-led and management-owned entities, sponsor-backed firms and particular conditions.
As of 31 March 2025, Carlyle’s World Credit score platform had property price $199bn.
J.P. Morgan was the only real advisor and placement agent to Trucordia for this deal.
Orrick, Herrington & Sutcliffe supplied authorized counsel to Trucordia, whereas Carlyle was legally suggested by Latham & Watkins.
Trucordia CEO Felix Morgan stated: “This funding and partnership with Carlyle will meaningfully strengthen Trucordia’s long-term monetary and possession construction and speed up our transformational development technique. Alongside momentum from the current rollout of our platform working mannequin, management appointments and newest acquisitions, I’ve by no means been extra enthusiastic about what the long run holds for Trucordia.”
Final month, Trucordia acquired Virginia-based Huffman Insurance coverage, which affords auto, house, enterprise and life insurance coverage options.
Trucordia was previously referred to as PCF Insurance coverage Providers and was rebranded in October final 12 months.
