Barings Backs Summit Partners’ Recapitalization of Patriot Growth Insurance Services | Nachricht

William Arsn

CHARLOTTE, N.C., Aug. 17, 2020 /PRNewswire/ — Barings, one of the world’s leading financial services firms, today announced that it has served as lead agent and arranger of a senior secured credit facility to support Summit Partners in its recapitalization of Patriot Growth Insurance Services. The recapitalization provides growth capital to support Patriot’s continued partnership with insurance services agencies across the United States. Financial terms were not disclosed.


Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Since its founding in 2019, Patriot has completed more than 35 acquisitions and has established a broad national footprint across 14 states.

“Patriot is an established leader in the insurance services space, and we look forward to supporting the continued growth of the company’s capabilities across the employee benefits and property & casualty landscape,” said Alexander Whittemore, Managing Director at Summit Partners. “We appreciate Barings’ continued financing support, especially during these uncertain times.”

“This successful capital raise will help to facilitate further strategic partnerships between Patriot and like-minded, high-quality agencies across the United States,” said Matthew Finkbeiner, Vice President of Finance at Patriot.

“We are pleased to support Patriot’s impressive growth and continued expansion as a national leader in insurance services,” said Brian C. Baldwin, Managing Director in Barings’ Global Private Finance group. “Our support of Summit’s investment in Patriot further extends our two firms’ long-standing relationship across a variety of platforms.”

Barings Global Private Finance (“GPF”) is a 70+ investment team located in seven offices on four continents. GPF has a 40-year track record of successfully financing middle-market buyouts, acquisitions, and recapitalizations. With product capabilities that range from traditional senior debt to bespoke junior capital securities, and hold sizes of $250 million+, Barings is focused on providing capital solutions that help our private equity clients complete their deal on time and as expected. Our long-term commitment to the asset class, local origination in each region, consistent team, and broad range of investment capabilities, are designed to provide investors an absolute spread premium to broadly syndicated loans as well as an attractive risk-adjusted return potential.

About Barings

Barings is a $346+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. Learn more at

*As of June 30, 2020
Media Contact:

Cheryl Krauss, Media Relations, Barings, 980-417-5858, [email protected] 

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