PCF secures $500 million funding

On the time of the funding, the valuation of PCF Insurance coverage was once $4.7 billion.

PCF Insurance coverage is a possibility leadership, advantages design, and insurance coverage brokerage services and products corporate that serves greater than 415,000 shoppers. Since executing its management-led buyout in November 2021, the corporate has finished greater than 100 spouse transactions and higher its earnings to $700 million, whilst keeping up natural enlargement of 10% through year-end 2022. The corporate has greater than 3,100 workers throughout 38 states.

“This transaction marks a vital milestone in our pursuit of establishing a premier insurance coverage brokerage company in america,” mentioned Peter C. Foy, founder, chairman and CEO of PCF. “We have now constructed our agency-centric trade type round long-term, sustainable enlargement, and I’m proud that PCF is situated to proceed making an investment within the enlargement of our companies, particularly all through those contemporary instances of financial uncertainty. We’re thankful for the contributions of our spouse buyers who’ve supported us with the original alternative to boost up enlargement.”

Learn subsequent: PCF acquires TCU Insurance coverage Company

“PCF Insurance coverage Products and services has skilled super enlargement because of its distinctive client- and employee-centric working type,” mentioned Gary Jacovino, managing director for Carlyle World Credit score. “We’re overjoyed to be partnering with a phenomenal leadership staff and team of firm companions, and are assured PCF will succeed in its long-term strategic enlargement goals with the give a boost to of Carlyle World Credit score, HGGC and our spouse buyers.”

“We proceed to be inspired with the expansion and operational developments PCF has completed because the onset of our partnership in 2020,” mentioned Matt Roesch, important of HGGC and board member at PCF. “We elected to proceed as minority shareholders after the leadership buyout in 2021 as a result of we see an overly brilliant long term for the trade, and we’re extremely joyful to increase our partnership with PCF, running in collaboration with Carlyle’s World Credit score platform, to lend a hand gas its subsequent segment of enlargement.”

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