June 4 (Reuters) - Insurance brokerage firm Trucordia
received a $1.3 billion strategic investment from global
investment firm Carlyle, valuing the company at more than
$5.7 billion, it said on Wednesday.
The investment is expected to reduce Trucordia's leverage
and simplify its governance structure by repurchasing units from
existing minority investors.
The U.S.-based brokerage offers commercial and personal
insurance, life insurance, and employee benefits solutions.
The transaction, which is expected to close this month,
provides the company with long-term financial flexibility,
Trucordia said.
J.P. Morgan acted as financial advisor to Trucordia.