Pelican Capital Management has raised capital for Smart Choice

Smart Choice

Founded in 1994, and headquartered in Greensboro, North Carolina, Smart Choice is one of the largest and fastest growing independent, full-service national insurance agency networks in the U.S. Smart Choice provides its network of more than 9,600 independent member brokers access to more than 160 insurance carriers in the property and casualty and life insurance sectors, in addition to various training, product, sales and marketing support. Smart Choice generates revenue from a portion of the commissions and fees produced by the network members, retaining no balance sheet or insurance risk.

The Deal

Lincoln International partnered with Pelican Capital Management, an independent sponsor focused on the financial services sector, to raise third-party capital to fund a minority equity investment in Smart Choice, a founder-owned insurance agency network. Through a tactical process to identify capital partners, Lincoln’s Private Funds Advisory Group generated robust demand from a deep roster of institutional investors, resulting in an oversubscribed process in less than three months. Through this transaction, Pelican will support the company’s continued growth plans alongside the current management team.

Our Perspective

Dan Posternak, Managing Director and co-head of Lincoln’s Private Funds Advisory Group, commented, “Pelican secured a diverse capital base of fully aligned third-party strategic partners on an efficient timeline in an otherwise challenging fundraising market. We are thrilled to have partnered with Pelican to expand their investor base and we look forward to tracking their continued success.”

Pelican Capital

Pelican is a New York-based financial and business services investment firm focused on influence-oriented and control investments. Pelican’s business model is centered around proprietary sourcing and flexible structuring, leveraging longstanding relationships and reputation to pursue unique, non-competitive situations.

Connect with a Senior Team Member
Lincoln provided invaluable strategic guidance throughout the equity capital raise. They truly understood the unique angle that we had on the business and took a creative approach to advising us on the transaction and finding the right investment partners.
Alex Binderow
Managing Member of Pelican Capital Management

Meet our Senior Team

Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.