Acrisure LLC said Monday three funds have invested or committed to $ 2 billion of preferred equity in the Caledonia, Michigan-based broker.

Acrisure said the investments were led by a unit of New York-based Blackstone Group LP, GSO Capital Partners and Tactical Opportunities. The other investors are Zug, Switzerland-based Partners Group AG and New York-based Harvest Partners SCF, LP.

The company remains 83% owned by its management team and agency partners, the statement said. In 2016, the company completed a $ 2.9 billion management buyout in a transaction led by its president, CE0 and co-founder Greg Williams and a consortium of minority investors.

Blackstone and Partners Group were part of the initial group of investors supporting the buyout, the statement said.

Acrisure completed 92 acquisitions in 2017 and expects to complete more than 100 by year-end 2018, the statement said. According to a Marsh, Berry & Co. Inc. report issued in October, Acrisure was the second most active firm among agents and brokers in U.S. transactions as of this year’s third quarter.

Acrisure is the 13th-largest broker of U.S. business, according to Business Insurance’s latest ranking.

Business Insurance

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