Bain Capital in talks to lead $2B investment in Acrisure

(Bloomberg) --A group led by Bain Capital's special-situations arm is in talks to invest as much as $2 billion in insurance broker Acrisure, according to people with knowledge of the matter.

The new investment is set to take the form of preferred equity, said the people, who asked not to be identified discussing confidential information. Terms of the transaction haven't been finalized and could still change, but any deal would enable BDT & MSD Partners, which led a $3 billion senior preferred stock investment in the company in 2021, to have a portion of its preferred investment in Acrisure redeemed, one of the people said.

Representatives for Bain and BDT & MSD declined to comment. An Acrisure spokesperson didn't immediately have a comment.

Read More: Acrisure Raises $3.45 Billion, Counts Trott's BDT as Investor

Acrisure, led by co-founder and Chief Executive Officer Greg Williams, connects businesses and individuals with a swath of insurers and describes itself as a financial-technology company. It has more than $4.8 billion in revenue, according to its website, and other investors include a subsidiary of the Abu Dhabi Investment Authority, Guggenheim Investments, and Oak Hill Advisors. 

The Grand Rapids, Michigan-based company, founded in 2005, has eyed an initial public offering, Bloomberg News has reported. With equity capital markets largely frozen due to volatility sparked by President Donald Trump's tariffs, alternative-asset managers have turned to options including minority-stake sales and continuation vehicles to obtain liquidity for fund investors.