A group led by Bain Capital’s special-situations arm is in talks to invest up to $2bn in insurance broker Acrisure, reported Bloomberg, citing sources.
The investment is expected to comprise preferred equity, sources told the publication. The sources added that the terms of the deal have not been finalised and could still change.
Go deeper with GlobalData
According to one of the sources, a completed deal would allow BDT & MSD Partners, which led a $3bn senior preferred stock investment in Acrisure in 2021, to redeem a portion of its existing preferred stake.
Representatives for Acrisure, Bain Capital and BDT & MSD declined to comment, Bloomberg said.
Acrisure connects businesses and individuals with a variety of insurers and describes itself as a financial-technology company.
Based in Grand Rapids, Michigan, it reports annual revenue of more than $4.8bn, according to its website.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataOther investors include a subsidiary of the Abu Dhabi Investment Authority, Guggenheim Investments, and Oak Hill Advisors.
Earlier this year, Acrisure divested its five general agencies to US-based insurer Warner Pacific and agreed on a partnership.
Earlier this month, Bain Capital agreed to offload UK-based digital insurer Esure to Ageas, a Belgian insurance group, for an approximate £1.3bn ($1.7bn).
Additionally, Bain Capital disclosed an investment of $825m to acquire a 9.9% stake in Lincoln Financial. This transaction included the sale of approximately 18.8 million shares of Lincoln’s common stock at $44 each, subject to regulatory approvals.
