Bain Capital is in advanced discussions to lead a $2bn preferred equity investment in Acrisure, the fintech-enabled insurance brokerage platform, in a move that could partially recapitalise the company’s existing investor base, according to a report by Bloomberg.
The report cite unnamed people familiar with the matter as confirming that the proposed deal – led by Bain’s special situations unit – would provide fresh capital to the Grand Rapids-based business and facilitate a partial redemption of the $3bn senior preferred stake held by BDT & MSD Partners, which led a major round in 2021. The terms are still under negotiation and subject to change, according to Bloomberg’s sources.
Acrisure, which has grown rapidly through acquisitions and technology investments, positions itself as a hybrid between a traditional broker and a financial technology platform. The firm reported $4.8bn in revenue and counts among its institutional investors Guggenheim Investments, Oak Hill Advisors, and a subsidiary of the Abu Dhabi Investment Authority.
Neither Bain Capital, BDT & MSD, nor Acrisure commented on the potential transaction.
