Photo by Andrew Dawes on Unsplash.

PCF Insurance Services has raised $500m in a funding round co-led by HGGC, a private equity firm, and the Global Credit platform of Carlyle. 

Crescent Capital and funds managed by Owl Rock, a branch of Blue Owl, also participated in the preferred equity investment round.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

All three investors are existing minority investors in PCF Insurance, a US-based firm, which is now valued at $4.7bn. 

With a client base of nearly 415,000, PCF Insurance is engaged in providing risk management, benefits design, and insurance brokerage services.

The insurance firm, which employs more than 3,100 people across 38 US states, completed its management-led buyout in November 2021. 

PCF Insurance founder, chairman and CEO Peter Foy said: “This transaction marks a significant milestone in our pursuit of building a premier insurance brokerage firm in the US. We have built our agency-centric business model around long-term, sustainable growth, and I am proud that PCF is positioned to continue investing in the growth of our agencies, especially during these recent times of economic uncertainty.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

HGGC principal and PCF Insurance board member Matt Roesch said: “We continue to be impressed with the growth and operational advancements PCF has achieved since the onset of our partnership in 2020.

“We elected to continue as minority shareholders after the management buyout in 2021 because we see a very bright future for the business, and we are thrilled to extend our partnership with PCF, working in collaboration with Carlyle’s Global Credit platform, to help fuel its next phase of growth.”

Last December, PCF Insurance bought TCU Insurance Agency for an undisclosed sum.