In a move that marks a major milestone in its corporate journey, Trucordia has revealed it will receive a significant $1.3 billion strategic investment from Carlyle’s Global Credit platform, a division of the renowned global investment firm Carlyle.

This substantial infusion of capital places Trucordia’s valuation at approximately $5.7 billion. The funds will be used to strengthen the company’s financial structure, primarily by lowering its debt-to-equity ratio. Additionally, part of the capital will be allocated toward simplifying Trucordia’s ownership and governance model through the repurchase of shares from some of its minority stakeholders.

“This continued backing from Carlyle — both financially and strategically — positions us to mature as an organization and push forward our key initiatives,” said Felix Morgan, Chief Executive Officer of Trucordia, during an interview with Insurance Journal.

The deal is projected to close by the end of this month. Once finalized, it is expected to enhance Trucordia’s long-term financial flexibility, aligning directly with the firm’s ongoing “Ascend” growth strategy. The initiative focuses on operational excellence, sustainable expansion, and strategic consolidation.

Reflecting on the company’s financial evolution, Morgan acknowledged the strength of past investment relationships: “We’ve been fortunate to have supportive capital partners who have played a crucial role in our journey so far.” However, he noted that the company, headquartered in Lindon, Utah, has grown at such a rapid pace that it has quickly exceeded its original capital base.

Previously known as PCF Insurance Services, Trucordia was ranked 13th in Insurance Journal‘s 2024 list of the Top 100 Independent Property/Casualty Agencies, having recorded around $584 million in property and casualty revenue. The firm rebranded to Trucordia in October 2024, a name derived from the words “trust” and “accord” — symbolizing its commitment to integrity and unity as it scales.

In recent years, Trucordia’s growth has been fueled primarily by an aggressive mergers and acquisitions strategy. While acquisitions will remain part of the broader growth plan, Morgan emphasized that the company’s next chapter under the Ascend framework will increasingly focus on robust organic growth, with a goal of reaching double-digit year-over-year expansion.

“Although our scale and reach have been greatly enhanced through acquisitions, we’re now entering a phase where the priority is creating value through integration,” Morgan explained. “We’re transitioning from being a collection of agencies to becoming a unified enterprise — and the rebrand was a meaningful step in that transformation.”

As part of this evolution, Trucordia has made substantial investments in building out its technology and infrastructure to support greater efficiency and scalability. Morgan sees Carlyle playing an active role in these developments moving forward.

“Carlyle offers not just capital but also access to an incredible network of resources — from advanced technology capabilities to strategic advisory expertise,” Morgan said. “They truly understand and respect that we’re an employee-owned company, and they’ve approached this partnership with a long-term, supportive perspective.”

By partnering with a global investment leader like Carlyle, Trucordia is positioning itself to enter its next phase of growth with reinforced financial strength, operational focus, and a continued commitment to innovation and excellence across the insurance services landscape.