Orrick Advises PCF Insurance on $500M Investment Led By Carlyle, HGGC

1 minute read | February.22.2023

Orrick advised PCF Insurance Services, a top 20 U.S. insurance brokerage firm, on a $500 million preferred equity investment co-led by Carlyle’s Global Credit platform and private equity firm and continuing minority investor, HGGC. PCF Insurance also received significant investment participation in the transaction by Owl Rock and Crescent Capital, both of which have existing minority equity stakes in the business. At the time of investment, the valuation of the company was $4.7 billion.

The Orrick team advising PCF Insurance was led by Leah Recht, Zachary Finley, Zac Padgett and Peter Elias and includes Cris Haro Sandoval, Stephen Chao, Joanna Pak, Kyung Park and Tom Sanford.