Acrisure has announced a $2.1 billion capital raise through the issuance of new convertible senior preferred stock, led by Bain Capital. The proceeds will be used to refinance existing non-convertible preferred stock, support future acquisitions, and strengthen the company’s technology-focused financial services platform. This funding round includes participation from Fidelity Management & Research Company, Apollo Funds, Gallatin Point Capital, BDT & MSD Partners, and other investors. Greg Williams, Chairman, CEO, and Co-Founder of Acrisure, stated, “Our evolution from an insurance brokerage into an AI- and technology-powered global financial services provider has opened the door to massive opportunity. I see limitless potential for how far Acrisure can go, and we’re extremely grateful for the financial support and validation from our investors.”
With a current valuation of $32 billion, Acrisure has grown significantly in recent years, bolstered by over 900 acquisitions and the expansion of its offerings across insurance, payroll, cybersecurity, and wealth services. The firm has also made key leadership hires, including a new CTO from Intercontinental Exchange and a Chief Administrative Officer from Palantir. Looking ahead, Acrisure plans to continue growing through further acquisitions and integrated product development. Morgan Stanley acted as the sole placement agent for the deal, with legal counsel provided by Skadden, Arps, Slate, Meagher & Flom LLP and Varnum LLP. This funding marks a major step in Acrisure’s strategy to widen its presence in financial and business services.
