Trucordia to Receive $1.3 Billion Strategic Investment from Carlyle
1 minute read | June.04.2025
Trucordia has announced it will receive a $1.3 billion strategic investment from global investment firm Carlyle’s Global Credit platform, positioning the company for accelerated growth through an improved capital structure and simplified governance.
Orrick represented Trucordia.
THE COMPANY
Trucordia, formerly PCF Insurance Services, is the group name for a top 20 U.S. insurance brokerage headquartered in Lindon, Utah. The Trucordia group of companies offers a broad array of commercial and personal lines, life and health, and employee benefits insurance solutions.
THE IMPACT
The transaction, which is expected to close this month and values Trucordia at $5.7 billion, provides the company with long-term financial flexibility to pursue a variety of strategic outcomes.
“This investment and partnership with Carlyle will meaningfully strengthen Trucordia’s long-term financial and ownership structure and accelerate our transformational growth strategy,” said Felix Morgan, CEO of Trucordia. “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.”
THE TEAM
Orrick’s Leah Recht and Zac Padgett led the team that advised Trucordia, which also included Stephen Chao, Marsha Mogilevich, Andy Bloom, Julia Orr, Pete Elias, SeoJung Park, Laura Bagarella, Zach Finley, Cris Sandoval, Matt Shellenhamer and Katie McFarlane.
Orrick also has advised Trucordia on over 20 acquisitions in the last 18 months as well as a previous investment co-led by Carlyle and HGGC.