A gaggle led by Bain Capital’s special-situations arm is in talks to take a position as much as $2bn in insurance coverage dealer Acrisure, reported Bloomberg, citing sources.
The funding is anticipated to comprise most popular fairness, sources informed the publication. The sources added that the phrases of the deal haven’t been finalised and will nonetheless change.
Based on one of many sources, a accomplished deal would enable BDT & MSD Companions, which led a $3bn senior most popular inventory funding in Acrisure in 2021, to redeem a portion of its present most popular stake.
Representatives for Acrisure, Bain Capital and BDT & MSD declined to remark, Bloomberg mentioned.
Acrisure connects companies and people with quite a lot of insurers and describes itself as a financial-technology firm.
Primarily based in Grand Rapids, Michigan, it experiences annual income of greater than $4.8bn, based on its web site.
Different traders embody a subsidiary of the Abu Dhabi Funding Authority, Guggenheim Investments, and Oak Hill Advisors.
Earlier this yr, Acrisure divested its 5 normal companies 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 coverage group, for an approximate £1.3bn ($1.7bn).
Moreover, Bain Capital disclosed an funding of $825m to accumulate a 9.9% stake in Lincoln Monetary. This transaction included the sale of roughly 18.8 million shares of Lincoln’s widespread inventory at $44 every, topic to regulatory approvals.
