April 26, 2016
JenCap Holdings LLC, a portfolio company of private-equity giant Carlyle Group, has acquired Trivedi-Capacity Associates LLC, a specialist MGA and wholesaler based in Mahwah, New Jersey. Terms of the transaction were not disclosed.
Trivedi-Capacity is a provider of specialty programs focused on commercial risks, particularly in the hotel and community association space. It has been in business since 2004.
Trivedi-Capacity’s staff of 10 will be part of the transaction, with Tushar Trivedi remaining as president. They will continue to operate from their current offices in Mahwah and San Diego, California, as Trivedi-Capacity Associates LLC, a JenCap Holdings LLC company.
JenCap is a recently formed insurance holding company based in New York City. It serves as a consolidator of specialty insurance distribution and program management businesses, including MGAs, specialty program underwriters, transactional wholesale brokers and captive managers.
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.