Keystone Agency Investors Secures $105 Million Senior Credit Facility with Madison Capital

Keystone Agency Investors Secures $105 Million Senior Credit Facility with Madison Capital

HARRISBURG, Pa.–(BUSINESS WIRE)–Keystone Agency Investors (“KAI”), a strategic partnership between Keystone Insurers Group and Bain Capital Credit, today announced its entry into a $105 million Senior Credit Facility (“the Facility”) with Madison Capital Funding, LLC.

The Company believes the Facility will significantly enhance and accelerate its ability to continue acquiring premier insurance agency partners within the United States. KAI expedited the close of the Facility to help facilitate the Company’s ninth strategic partnership since launching in July 2020. Over time, and subject to certain terms and conditions, KAI anticipates increasing the Facility.

“We are thrilled by the confidence and appreciate the partnership that Madison Capital affords our company and look forward to delivering on our commitments,” said Jeff Turner, Chief Operating Officer of KAI.

“This Facility provides us with the opportunity to capitalize on the unique partnership we offer agencies across the United States. It also signifies strong market support of the Company’s investment thesis, operational strength and distinct value proposition,” noted Tony Rossi, Chief Financial Officer of KAI.

Clayton Bruce, a Director within Madison Capital’s Insurance & Financial Services team, said, “As an institution, Madison Capital has a long history supporting and financing the insurance brokerage industry. We were very impressed with the KAI management team and look forward to supporting the next phase of their growth.”

About Keystone Agency Investors (KAI)

Keystone Agency Investors (KAI) is a retail insurance brokerage and wealth advisory firm that helps insurance agencies grow and thrive into the future through strategic acquisition and partnership. Through autonomy, financial security and access to our agency resources, KAI affords owners preservation of their operations and local presence while monetizing their assets and providing an unrivaled blueprint for maximizing value. KAI was formed in 2020 as a strategic partnership between Keystone Insurers Group and Bain Capital Credit. For more information, go to

About Madison Capital Funding

Founded in 2001, Madison Capital Funding, LLC is a market leader in supporting middle market private equity sponsors and their investment companies with cash-flow based corporate finance products. Since inception, Madison Capital Funding has invested $40.2 billion in 1,325 middle market transactions with 322 private equity sponsors. For more information, please visit:


Keystone Agency Investors
Tony Rossi
Chief Financial Officer

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