Private equity firms The Carlyle Group and HGGC agreed to invest $500m in PCF Insurance Services, a US-based insurance brokerage firm. "PCF Insurance Services has experienced tremendous growth as a result of its unique client- and employee-centric operating model. We are delighted to be partnering with an exceptional management team and group of Agency Partners, and are confident PCF will achieve its long-term strategic growth objectives with the support of Carlyle Global Credit, HGGC and our partner investors," Gary Jacovino, Carlyle Managing Director.