Acrisure secures $3.4 billion in capital raise

Insurance broker Acrisure announced the closing of two transactions representing a $3.4 billion capital raise.

BDT Capital Partners, a merchant bank that provides family and founder-led businesses with long-term, differentiated capital, led a $3 billion investment, through its affiliated investment funds, into Acrisure’s Senior Preferred Stock. In addition, a consortium of investors has invested $454 million of new capital in Junior Preferred Stock.

“These transactions are a clear reflection of how the market is valuing both the strength of our existing insurance brokerage business and, importantly, our vision for accelerating our technology initiatives going forward. These investments enable us to pursue strategic initiatives with aligned capital that will provide greater value for all shareholders. Based on our data, AI foundation, and global distribution capabilities, we will accelerate our growth in the insurance brokerage industry and into adjacent opportunities. ” – Greg Williams, Co-Founder, President and CEO of Acrisure.

“Acrisure is an innovative leader in an attractive industry with a very strong management team led by Co-Founder Greg Williams. We look forward to a long-term partnership with Greg and his team, consistent with our business model of providing patient capital to founder and family-led businesses, while leveraging our network of closely held business owners and investors to support the company’s growth and expansion.” – Byron Trott, Founder, Chairman and CEO of BDT Capital Partners.

A portion of the proceeds from today’s announced investments was used to repurchase in full Acrisure’s existing Senior Preferred Stock and certain warrants. J.P. Morgan served as placement agent to Acrisure on the Junior Preferred Stock Offering.