Acrisure has secured a US$2.1 billion capital raise through the issuance of convertible senior preferred stock, led by Bain Capital. The investment will be used to refinance existing non-convertible preferred stock, support strategic mergers and acquisitions, and further develop its technology-driven financial services platform. This financing round values Acrisure at US$32 billion, representing a nearly 40% increase from its last institutional capital raise three years ago.
Investment Details and Strategic Plans
The financing 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, BDT & MSD remains Acrisure’s largest minority shareholder through affiliated funds. The company has confirmed that no existing investors exited the deal.
Acrisure plans to continue pursuing targeted mergers and acquisitions to expand its footprint and offerings while consolidating its platform developed through approximately 900 acquisitions. The company’s current portfolio includes services in real estate, cybersecurity, payroll and payments, and retirement and wealth solutions.
Leadership Reinforcements
The capital raise coincides with recent senior leadership appointments, including Mark Wassersug, former COO of Intercontinental Exchange, as chief technology officer, and Shawn Pelsinger, previously global head of corporate development at Palantir Technologies, as chief administrative officer. Greg Williams, Acrisure’s chairman, CEO, and co-founder, emphasized the significance of this 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.”
Market Context
This investment is part of a broader trend of significant investments in the insurance sector by Bain Capital. Recent notable moves include agreeing to sell UK-based insurer Esure to Belgian company Ageas for £1.3 billion and investing US$825 million to acquire a 9.9% stake in Lincoln Financial Group.
The capital injection aligns with Acrisure’s strategy to position itself as a fintech solutions provider targeting small- and medium-sized enterprises in both domestic and international markets. With its enhanced financial backing and strengthened leadership, Acrisure is poised to accelerate its growth plans in the fintech and insurance sectors.
