Global investment powerhouse Carlyle is placing a $1.3 billion wager on the future of insurance distribution, announcing Wednesday a strategic infusion into Trucordia that values the fast-growing brokerage at $5.7 billion.
The blockbuster investment — led by Carlyle’s credit opportunities team and advised by legal giant Latham & Watkins LLP — is expected to close by the end of this month. Trucordia, backed by counsel from Orrick Herrington & Sutcliffe LLP, plans to use the funds to streamline its ownership structure, reduce debt, and turbocharge its growth engine.
A Game-Changer for Trucordia
Trucordia CEO Felix Morgan, steering the Utah-based insurance firm through rapid expansion, said the Carlyle deal will “meaningfully strengthen Trucordia’s long-term financial and ownership structure.”
“This partnership is a major catalyst,” Morgan said. “Paired with our newly launched platform operating model, fresh leadership, and recent acquisitions, I’ve never been more confident in our path forward.”
Trucordia provides commercial and personal lines insurance as well as employee benefits. The Carlyle investment, beyond clearing leverage and buying out existing minority stakeholders, gives the firm flexible capital to explore future strategic directions — whether through acquisitions, partnerships, or even potential public offerings.
