Trucordia Receives $1.3 Billion Strategic Investment from Carlyle
Deal News | Jun 04, 2025 | The Carlyle Group
Trucordia, a top 20 U.S. insurance brokerage, has announced a strategic $1.3 billion investment from Carlyle's Global Credit platform. This transaction, set to close this month, will effectively position Trucordia for accelerated growth by reducing leverage and simplifying governance through the repurchase of units from existing minority investors. This investment values Trucordia at $5.7 billion and aims to provide enhanced financial flexibility to pursue strategic opportunities. The company's CEO, Felix Morgan, emphasized that this partnership strengthens their financial structure and supports their transformational growth strategy. Carlyle, with $199 billion in assets under management, envisions the transaction as an opportunity to capitalize on long-term growth in the insurance distribution sector. J.P. Morgan acted as the sole advisor and placement agent for the transaction, while Orrick, Herrington & Sutcliffe LLP and Latham & Watkins LLP served as legal counsels to Trucordia and Carlyle, respectively.
Sectors
- Insurance Brokerage
- Private Equity
- Financial Services
Geography
- United States – Trucordia is based in Lindon, Utah, and ranks among the top U.S. insurance brokerages.
- Global – Carlyle is a global investment firm with a presence across four continents, highlighting its global investment strategy.
- New York, NY – The announcement was made from New York, a major financial hub and part of Trucordia’s operational landscape.
Industry
- Insurance Brokerage – Trucordia operates within the insurance brokerage industry, providing commercial, personal, life, and employee benefits insurance solutions.
- Private Equity – Carlyle is a global investment firm operating within the private equity space, offering structured financial solutions to various sectors.
- Financial Services – Carlyle and its Global Credit platform operate within the financial services sector, specializing in investment and capital management.
Financials
- $1.3 Billion – Amount of strategic investment received by Trucordia from Carlyle.
- $5.7 Billion – Valuation of Trucordia post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Trucordia | Target Company | Company | Trucordia is a leading U.S. insurance brokerage offering a diverse array of insurance products and services. |
| The Carlyle Group | Investor | Company | Carlyle is a global investment firm providing strategic investments through its Global Credit platform. |
| J.P. Morgan | Advisor and Placement Agent | Company | J.P. Morgan acted as the sole advisor and placement agent for Trucordia in the transaction. |
| Orrick, Herrington & Sutcliffe LLP | Legal Advisor | Company | Legal counsel to Trucordia. |
| Latham & Watkins LLP | Legal Advisor | Company | Legal counsel to Carlyle. |