PIB are an insurance broker serving specialist markets in the UK.
When we invested in PIB in 2014, we backed a talented team to create a business that could take advantage of their extensive expertise. After we injected capital, PIB expanded its team and on-boarded clients at a rapid pace. We helped them to make the right decisions early on, and were on-hand to make sure that any growing pains were easily dealt with.
We exited PIB to The Carlyle Group just under 2 years after we invested. We were the right people to fund the company in its early stages, but as PIB grew, the type of funding it needed changed. We typically hold our investments for longer, but this time a profitable early exit was right for everybody.