(Reuters) -Insurance brokerage firm Trucordia received a $1.3 billion strategic investment from global investment firm Carlyle, valuing the company at more than $5.7 billion, it said on Wednesday.
The investment is expected to reduce Trucordia’s leverage and simplify its governance structure by repurchasing units from existing minority investors.
The U.S.-based brokerage offers commercial and personal insurance, life insurance, and employee benefits solutions.
The transaction, which is expected to close this month, provides the company with long-term financial flexibility, Trucordia said.
J.P. Morgan acted as financial advisor to Trucordia.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shailesh Kuber)
