Truist to acquire Constellation Affiliated Partners from RedBird Capital.

Truist, an American bank holding company headquartered in Charlotte, agreed to acquire Constellation Affiliated Partners, an insurance distribution platform, from private equity firm RedBird Capital. Financial terms were not disclosed. "Expanding our insurance business remains a key priority for Truist as we continually look for ways to enhance our offerings and introduce new clients to Truist. This acquisition enables us to continue diversifying our revenue and provide expansive insurance solutions to our clients—while ultimately helping us fulfill our purpose to build better lives and communities," Kelly S. King, Truist Chairman and CEO.