Acrisure Secures Major Capital Backing to Advance Fintech Strategy
Insurance firm Acrisure has secured a US$2.1 billion capital raise through the issuance of new convertible senior preferred stock, led by Bain Capital. The investment will be used to refinance part of the company’s existing non-convertible preferred stock, support strategic mergers and acquisitions, and further develop its technology-driven financial services platform targeting small- and medium-sized enterprises (SMEs) in both domestic and international markets.
The financing round included participation from prominent investors such as Bain Capital Special Situations, Fidelity Management & Research Company, Apollo Funds, Gallatin Point Capital, and BDT & MSD Partners. Notably, no existing investors exited the deal, with BDT & MSD remaining Acrisure’s largest minority shareholder through affiliated funds.
This significant investment values Acrisure at US$32 billion, representing a nearly 40% increase from its last institutional capital raise three years ago. The company plans to leverage this funding to continue its aggressive acquisition strategy, having already completed approximately 900 acquisitions. Acrisure’s current portfolio includes services in real estate, cybersecurity, payroll and payments, and retirement and wealth solutions.
Greg Williams, Acrisure’s chairman, CEO, and co-founder, expressed enthusiasm about the transaction, stating, “I see limitless potential for how far Acrisure can go, and we’re extremely grateful for the financial support and validation from our investors.” The company has recently bolstered its leadership team with key appointments, including Mark Wassersug as chief technology officer and Shawn Pelsinger as chief administrative officer.
This investment is part of Bain Capital’s continued focus on the insurance sector. Recent activities include the sale of UK-based insurer Esure to Belgian company Ageas for £1.3 billion and a US$825 million investment to acquire a 9.9% stake in Lincoln Financial Group.
Acrisure’s growth strategy includes both consolidating its platform and pursuing organic growth. The company’s fintech ambitions are supported by its expanded leadership team and significant capital backing, positioning it for further expansion in the SME market.
