Acrisure, the US-based insurance broker, is reportedly in discussions to receive up to US$2 billion in investment from a group led by Bain Capital’s special-situations unit, according to individuals familiar with the matter.
The prospective capital injection would be structured as preferred equity, sources said, with final terms yet to be agreed. The deal, if concluded, would allow BDT & MSD Partners— which previously led a US$3 billion senior preferred stock investment in Acrisure in 2021— to partially redeem its existing position in the company.
Founded in 2005 and headquartered in Grand Rapids, Michigan, Acrisure provides brokerage services linking individuals and businesses with insurance providers. It identifies as a financial-technology business and reported more than US$4.8 billion in revenue on its website.
Its investor base includes entities such as a subsidiary of the Abu Dhabi Investment Authority, Guggenheim Investments, and Oak Hill Advisors.
The firm, led by co-founder and chief executive Greg Williams (pictured above), has previously considered pursuing an initial public offering, according to Bloomberg.
Meanwhile, Bain Capital has been actively expanding its footprint in the insurance sector through a series of strategic investments and partnerships.
Earlier this month, Bain Capital agreed to invest US$825 million for a 9.9% stake in Lincoln Financial Group. This partnership includes a 10-year, non-exclusive investment management arrangement, with Bain Capital overseeing a portion of Lincoln’s portfolio across various asset classes, such as private credit and structured assets.
In March, Bain Capital Insurance also invested in Leading Edge Claims Service, a company within the insurance brokers industry.
Amid continued volatility in equity capital markets, partly driven by trade policy measures implemented under former US President Donald Trump, asset managers have increasingly sought liquidity through alternative means such as minority-stake divestments and continuation vehicles.
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