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Trucordia to Receive $1.3 Billion Strategic Investment from Carlyle

1. Carlyle invests $1.3 billion in Trucordia, valuing it at $5.7 billion. 2. Investment aims to reduce Trucordia's leverage and simplify governance. 3. Trucordia anticipates accelerated growth and enhanced financial flexibility. 4. Carlyle supports Trucordia's growth in the insurance distribution sector. 5. Transaction set to close this month, impacting operational strategies.

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Why Bullish?

The significant capital infusion enhances Trucordia's financial structure, potentially increasing investor confidence, similar to successful past investments by Carlyle in other growth-oriented firms.

How important is it?

The deal directly involves Carlyle and could lead to increased asset value through enhanced governance and reduced debt for Trucordia, reflecting positively on CG’s overall portfolio.

Why Long Term?

The restructuring and strategic growth opportunities established by the investment position Trucordia for sustainable long-term gains, akin to Carlyle's previous successes with portfolio companies.

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Carlyle Group (CG)
Transaction positions company for accelerated growth through improved capital structure and simplified governance , /PRNewswire/ -- Trucordia today announced it will receive a $1.3 billion strategic investment from global investment firm Carlyle's Global Credit platform. The transaction will reduce Trucordia's leverage and simplify its governance structure by repurchasing units from existing minority investors. The transaction, which is expected to close this month and values Trucordia at $5.7 billion, provides the company with long-term financial flexibility to pursue a variety of strategic outcomes. "This investment and partnership with Carlyle will meaningfully strengthen Trucordia's long-term financial and ownership structure and accelerate our transformational growth strategy," said Felix Morgan, CEO of Trucordia. "Alongside momentum from the recent rollout of our platform operating model, leadership appointments, and latest acquisitions, I've never been more excited about what the future holds for Trucordia." Trucordia is a top 20 U.S. insurance brokerage offering a broad array of commercial and personal lines, life, and employee benefits insurance solutions. Trucordia is underpinned by a strong performance driven-culture, organic growth, and strategic acquisitions. "The investment from Carlyle will reduce Trucordia's leverage, fortify our balance sheet, and enhance our financial flexibility," said Trucordia Chief Financial Officer Brandon Gray. "We are well positioned to continue making the right investments in our business moving forward." "Trucordia has quickly established itself as a category leader with an experienced management team and a clear strategic vision," said Andreas Boye, Partner and Head of Carlyle Credit Opportunities in North America. "We believe the company is well-positioned to capitalize on long-term growth opportunities in the insurance distribution sector, and we're thrilled to support their continued success." Gary Jacovino, Partner on Carlyle's Credit Opportunities team, added, "We are excited to strengthen our partnership with Trucordia as the organization continues to deliver an industry-leading client experience while pursuing scalable growth. We value building lasting partnerships with industry-leading management teams and support their vision for sustained success." The investment was led by Carlyle's Credit Opportunities team, within the firm's Global Credit platform. The strategy seeks to provide highly structured and privately negotiated solutions across the capital structure to family, founder, and management-owned companies, sponsor-backed companies, and special situations, with a focus on long-term value creation. Carlyle's Global Credit platform has $199 billion in assets under management as of March 31, 2025. J.P. Morgan acted as sole advisor and placement agent to Trucordia in connection with the transaction. Orrick, Herrington & Sutcliffe LLP served as legal counsel to Trucordia.   Latham & Watkins LLP served as legal counsel to Carlyle. About TrucordiaTrucordia, formerly PCF Insurance Services, is the group name for a top 20 U.S. insurance brokerage headquartered in Lindon, Utah. The Trucordia group of companies offers a broad array of commercial and personal lines, life and health, and employee benefits insurance solutions. Trucordia is an integrated organization united by a passion to deliver extraordinary opportunities and exceptional experiences for its clients, partners, and each other. With more than 5,000 team members across the U.S., Trucordia is a notable leader in the insurance brokerage space, ranking #19 on Business Insurance's 2024 Top 100 Brokers and #13 on Insurance Journal's 2024 Top Property/Casualty Agencies. Visit trucordia.com for more information. About CarlyleCarlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group. SOURCE Trucordia WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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