NEW YORK, April 21, 2016 /PRNewswire/ -- JenCap Holdings, LLC, a consolidator of specialty insurance distribution and program management businesses, including managing general agencies, specialty program underwriters, transactional wholesale brokers and captive managers, has acquired specialist MGA and wholesaler Trivedi-Capacity Associates, LLC. JenCap Holdings, LLC is a portfolio company of The Carlyle Group.
Trivedi-Capacity Associates, LLC is a provider of specialty programs focused on commercial risks, particularly in the hotel and Community Association space. With over 40 years of experience, the Trivedi management team provides expertise, simplicity and efficiency to a significant base of independent brokers and agents nationally.
John F. Jennings, President and CEO of JenCap Holdings, commented, "The addition of Trivedi-Capacity Associates reflects our continuing strategy of selectively expanding our product offerings and distribution networks and attracting the best talent, while maintaining a focus on client service and excellence." Trivedi-Capacity will continue to operate from offices in Mahwah, New Jersey, and San Diego, California.
Tushar Trivedi, who will remain the president of Trivedi-Capacity, said, "Being part of a growing and dynamic JenCap Holdings and having Carlyle's financial services team as our financial partner gives us the ability to enhance our suite of products and expand their reach to an even larger group of retail brokers and agents."
JenCap is a holding of Carlyle Global Financial Services Partners II, a $1 billion fund closed in 2014. The fund invests in all verticals of financial services including asset and wealth management, insurance, capital markets, business services, banks and specialty finance.
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SOURCE JenCap Holdings, LLC