Sedgwick Announces Strategic Partnership With Altas Partners

Sedgwick added a new major investor.

The global provider of claims management services this week announced an investment from North American private equity firm Altas Partners.

Current investors, including funds managed by global investment firm Carlyle and by Stone Point Capital LLC, will remain as investors and continue to make new investments in the business, with Carlyle maintaining its control position in partnership with the investor group and the Sedgwick management team.

This transaction implies a total enterprise value of $13.2 billion, an increase from $6.7 billion when Carlyle made its initial investment in Sedgwick in 2018. Altas has committed to invest $1 billion of equity as part of the transaction.

Sedgwick will remain an independent, private company with a focus on claims handling.

The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

In 2023, Sedgwick reported handling more than eight million claims and had fiduciary responsibility for claim payments totaling more than $33 billion.

Altas focuses on services sub-sectors. The firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages roughly $10 billion on behalf of institutional and family office investors from around the world.

Carlyle is a global investment firm that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. The company reports $435 billion of assets under management as of June 30.

Stone Point is an alternative investment firm based in Greenwich, Connecticut, with a reported $50 billion of assets under management.