CPRI broker BPL secures Preservation PE backing

Berry Palmer & Lyle (BPL) has secured investment from Preservation Capital Partners (PCP), a specialist financial services investor supported by long-term co-investors.

The private equity firm has taken a minority stake in the specialist credit and political risk insurance (CPRI) broker, London-based BPL has announced.

BPL said PCP’s minority investment would secure the broker’s future as an independent, employee-owned firm in the CPRI market “strongly positioned for sustained growth and innovation”.

Jatender Aujla, managing partner at PCP, will join the BPL board, with the broader leadership remaining unchanged, the broker said.

“BPL only became fully employee-owned around a decade after it was founded, when the PRI market was still embryonic,” said Charles Berry, founder of BPL.

“Now the CPRI market has matured, with a clear direction and growth trajectory, it is time to revert to our origins by partnering with external minority shareholders, while retaining majority employee-ownership and our specialisation.”

Insurance capacity available for CPRI recently reached new heights, amid the volatile geopolitical risk environment, according to a report published by rival intermediary Gallagher Specialty.

“But PCP doesn’t just offer us financial firepower – it also lends us the skillsets of an exceptionally dynamic group of banking and strategic operational experts,” he said.

“I have no doubt that we have found the best fit for BPL – a continuation of the business we built, while enabling it to aim higher and unlock the type of opportunities that our team deserves,” Berry added.

The transaction is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals and other closing conditions.

The news comes ahead of the 25th anniversary of BPL’s opening in Paris in July. The broker maintains offices in London, Paris, New York, Singapore, Geneva and Hong Kong.

Sian Aspinall, group CEO, BPL, said: “We are thrilled to partner with PCP. Not only are we founded on the same values of specialism, innovation and ‘skin in the game’ but we share the same philosophy for development – strengthening through investing in talent, innovation and expertise.”

James Esdaile, chairman, BPL, said: “With the support of our new partners, I have no doubt we will continue to lead the CPRI market, leveraging new growth opportunities while staying at the forefront of innovation and service. I look forward to our clients, team and market benefitting from this next stage of BPL’s evolution.”

Jatender Aujla, managing partner, PCP, added: “We are delighted to partner with a leading specialist broker led by an outstanding management team. We have been following BPL’s market leading performance over a number of years and have been impressed by its outstanding growth and unparalleled reputation.

“BPL has consistently demonstrated market leadership and an unwavering commitment to delivering value to its clients. Our investment underscores PCP’s strategy of partnering with best-in-class businesses led by exceptional management teams, and we look forward to supporting BPL’s next phase of growth.”