Sedgwick announces strategic partnership with Altas Partners

Sedgwick added a new major investor.

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

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

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

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

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 claims payments totaling more than $33 billion.

Altas focuses on service sub-sectors. The firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages approximately $10 billion on behalf of institutional and family office investors worldwide.

Carlyle is a global private equity investment firm and operates through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. The company reports assets under management of $435 billion as of June 30.

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