The Carlyle Group to Invest in EPIC in California

November 15, 2013

Edgewood Partners Insurance Center announced that funds managed by global alternative asset manager The Carlyle Group have agreed to acquire a controlling equity stake in the company.

The investment is subject to customary regulatory approvals and is expected to close at year-end. Terms of the deal were not disclosed.

Carlyle’s investment will enable EPIC to continue to execute its organic growth strategy and to support strategic acquisitions of complementary insurance distribution platforms throughout the country, the company said.

EPIC reports roughly $80 million in annual revenues, and has developed a suite of capabilities for commercial lines and employee benefits placements as well as specialized placement

EPIC employees, including founders John Hahn and Dan Francis, will remain substantial investors in the company. Equity for the investment will be provided by Carlyle Global Financial Services Partners L.P. and Carlyle Global Financial Services Partners II L.P.

EPIC has more than 300 employees operating from 10 offices across California: Los Angeles; Irvine; Ontario; Fresno; Folsom; San Francisco; San Mateo; Petaluma; San Ramon; Inland Empire. EPIC also has offices in Denver, Colo., Chicago and New York.

The Carlyle Group reports $185 billion of assets under management across 122 funds and 81 fund of funds vehicles as of Sept. 30.

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