PCF confirms $500mn preferred equity raise from Carlyle, HGGC at $4.7bn valuation

PCF Insurance Services announced Friday it has secured $500mn in preferred equity financing co-led by Carlyle and existing backers HGGC and Owl Rock, that values PCF at $4.7bn, and confirms The Insurer’s December report that the highly-acquisitive retail brokerage firm was in discussions with the PE heavyweight over a preferred equity raise.