CVC Credit has supported Pollen Street Capital and Qatar Insurance Corporation’s investment in UK insurance company, Markerstudy Group, with GBP85 million in senior debt facilities
The business will use the investment to fund an organic and acquisition-led expansion programme to build on its rapid development over recent years, following its evolution into a Managing General Agent.
Founded in 2001, Markerstudy is the fifth largest motor insurance provider in the UK, one of the largest privately owned insurance groups, and the largest Managing General Agent in the UK. With over 1.8 million policyholders, it is known for its investment in technology, underwriting expertise and sophisticated product development.
Chris Fowler, Managing Director in CVC Credit’s European Private Credit business, says: “We are pleased to support Pollen Street’s and QIC’s investment in Markerstudy. This is a growing and innovative business which operates in a stable market, driven by both consumer demand and regulatory trends. CVC Group is an experienced investor in the insurance sector, including current investments such as April and RAC in CVC Capital’s portfolios. This broad understanding of the space was key when validating the quality of the business and underlying market drivers.”
Source: Private Equity Wire
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