Michael Dell's DFO Management nears $7.7B Baldwin Insurance take-private

Reuters··US·Read original
3▲1 ▼0Impact / 5
Summary · why it matters

Michael Dell's family office, DFO Management, is nearing a $7.7 billion take-private deal for The Baldwin Insurance Group, according to Reuters, citing the Financial Times. DFO Management is leading the transaction alongside Sequence Holdings, with the two firms in advanced talks to acquire the insurance brokerage at $32.50 per share, a roughly 10% premium over Baldwin's closing price of $29.65 on Friday. An announcement is expected as soon as Monday. Baldwin, headquartered in Tampa, Florida, provides risk management, insurance advisory, and tech-driven underwriting services and has a market capitalization of around $4.14 billion. In its second-quarter 2026 earnings report, Baldwin posted total revenue of $492.9 million, up 30% from a year earlier, and adjusted diluted earnings per share of 48 cents, up 14% year-over-year. Sequence Holdings, backed by 8VC, Conviction, and Lux Capital, focuses on buying mature service-sector businesses and updating their operations through proprietary software. None of the three firms replied to requests for comment after business hours.

Impact on assets 2

Financials▲
The Baldwin Insurance Group, Inc.
BWIN
▲ PositiveCapitalrelevance

DFO Management and Sequence Holdings are nearing a $7.7B take-private of Baldwin at $32.50/share, a ~10% premium to its last close.

Artificial Intelligence▲

Off-coverage companies 5

8VCi
Private± Mixedrelevance

Convictioni
Private± Mixedrelevance

DFO Managementi
Private± Mixedrelevance

Lux Capitali
Private± Mixedrelevance

Sequence Holdingsi
Private± Mixedrelevance