GlobalData

Thu, Jun 5, 2025, 7:28 AM2 min read

Trucordia has disclosed a $1.3bn investment from private equity firm Carlyle, valuing the insurance brokerage at $5.7bn.

The transaction is expected to conclude within the current month.

This investment is set to provide Trucordia with the financial leeway necessary to pursue various initiatives. It will also streamline the company’s governance framework by enabling the repurchase of equity held by current minority investors.

Trucordia chief financial officer Brandon Gray stated: “The investment from Carlyle will reduce Trucordia’s leverage, fortify our balance sheet and enhance our financial flexibility. We are well positioned to continue making the right investments in our business moving forward.”

Based in Lindon, Utah, the company offers insurance products including commercial, personal, life and employee benefits insurance.

Carlyle's Credit Opportunities team, part of the Global Credit platform, led the investment with a strategy that targets family owned, founder-led and management-owned entities, sponsor-backed companies and special situations.

As of 31 March 2025, Carlyle's Global Credit platform had assets worth $199bn.

J.P. Morgan was the sole advisor and placement agent to Trucordia for this deal.

Orrick, Herrington & Sutcliffe provided legal counsel to Trucordia, while Carlyle was legally advised by Latham & Watkins.

Trucordia CEO Felix Morgan said: “This investment and partnership with Carlyle will meaningfully strengthen Trucordia’s long-term financial and ownership structure and accelerate our transformational growth strategy. Alongside momentum from the recent rollout of our platform operating model, leadership appointments and latest acquisitions, I have never been more excited about what the future holds for Trucordia.”

Last month, Trucordia acquired Virginia-based Huffman Insurance, which offers auto, home, business and life insurance solutions.

Trucordia was formerly known as PCF Insurance Services and was rebranded in October last year.

"US insurance broker Trucordia secures $1.3bn from Carlyle " was originally created and published by Life Insurance International, a GlobalData owned brand.

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