Trucordia has announced a strategic investment of $1.3 billion from Carlyle’s Global Credit platform. This transaction aims to reduce Trucordia’s leverage and simplify its governance by repurchasing units from existing minority investors. The deal is expected to close this month, valuing Trucordia at $5.7 billion.
Felix Morgan, CEO of Trucordia, expressed optimism about the partnership with Carlyle, stating it will strengthen the company’s financial and ownership structure while accelerating growth strategies. “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,” he said.
Brandon Gray, Chief Financial Officer of Trucordia, noted that the investment will enhance the company’s financial flexibility and position it well for future investments. Andreas Boye from Carlyle praised Trucordia as a category leader with a clear strategic vision and stated that Carlyle is thrilled to support their continued success.
Gary Jacovino from Carlyle added that they are eager to strengthen their partnership with Trucordia as it pursues scalable growth while maintaining an industry-leading client experience.
Carlyle’s Credit Opportunities team led the investment within its Global Credit platform. J.P. Morgan acted as sole advisor and placement agent for Trucordia in this transaction, while Orrick, Herrington & Sutcliffe LLP served as legal counsel to Trucordia and Latham & Watkins LLP served as legal counsel to Carlyle.
Trucordia is recognized as a top 20 U.S. insurance brokerage offering a range of insurance solutions and is headquartered in Lindon, Utah. Carlyle is a global investment firm with $453 billion in assets under management as of March 31, 2025.
