Latham & Watkins Represents Carlyle in US$1.3 Billion Strategic Investment in Trucordia

Trucordia, a top 20 US insurance brokerage, has announced it will receive a US$1.3 billion strategic investment from global investment firm Carlyle’s Global Credit platform. The transaction will reduce Trucordia’s leverage and simplify its governance structure by repurchasing units from existing minority investors. The transaction, which is expected to close this month and values Trucordia at US$5.7 billion, provides the company with long-term financial flexibility to pursue a variety of strategic outcomes.

Latham & Watkins LLP represents Carlyle in the transaction with a corporate deal team led by partners Stelios Saffos, Peter Sluka, Cory Tull, and Andrew Blumenthal, with associates Brad Guest, Claire Solimine, Dustin Davis, Adam Weber, Skye Lee, and Jack French, with assistance from Haley Connor. Advice was also provided on tax/benefits matters by partners Jocelyn Noll and David Della Rocca and counsel Sandra Benjamin, with associates Ted Gkoo, Hayden Rutledge, and Elizabeth Duncan; on insurance matters by partners Gary Boss and Kirsten Gaeta and counsel Dean Agnos and Alexander Traum, with associate Teresa Wendel; and on compliance matters by partners Erin Brown Jones, Peter Todaro, and Les Carnegie, and counsel Zachary Eddington and Wesley Lepla.