Trucordia announced that it will receive a $1.3 billion strategic investment from Carlyle’s Global Credit platform. The deal will reduce Trucordia’s leverage and simplify its governance structure by repurchasing units from existing minority investors.
This deal, 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.
Trucordia is a top 20 U.S. insurance brokerage providing a broad array of commercial and personal lines, life, and employee benefits insurance solutions. And Trucordia is underpinned by a strong performance-driven culture, organic growth, and strategic acquisitions.
The funding was led by Carlyle’s Credit Opportunities team, within the firm’s Global Credit platform. And the strategy aims to deliver highly structured and privately negotiated solutions across the capital structure to family-owned, founder-owned, 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.
Advisors: J.P. Morgan acted as sole advisor and placement agent to Trucordia in connection with the transaction. And Orrick, Herrington & Sutcliffe served as legal counsel to Trucordia. Latham & Watkins served as legal counsel to Carlyle.
KEY QUOTES:
“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’ve never been more excited about what the future holds for Trucordia.”
Felix Morgan, CEO of Trucordia
“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.”
Trucordia Chief Financial Officer Brandon Gray
“Trucordia has quickly established itself as a category leader with an experienced management team and a clear strategic vision. 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.”
Andreas Boye, Partner and Head of Carlyle Credit Opportunities in North America
“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.”
Gary Jacovino, Partner on Carlyle’s Credit Opportunities team
