BPL secures long-term investment from Preservation Capital Partners

Private equity firm takes minority stake in the specialist Credit and Political Risk Insurance (CPRI) broker

Berry Palmer & Lyle (BPL), the world’s leading broker specialising in
CPRI, has announced today that it has secured investment from Preservation Capital Partners
(PCP), a specialist financial services investor supported by long-term co-investors.

Long hailed as the “Best-in-Class” CPRI broker, BPL takes this next step following years of
outperforming the market. PCP’s minority investment secures BPL’s future as an independent,
employee-owned firm operating at the forefront of the CPRI market. When partnered with PCP’s
extensive expertise, network, and experience as specialist investors in financial services, BPL is
strongly positioned for sustained growth and innovation.

As an independent firm, BPL remains committed to delivering best-in-class advisory services,
ensuring its clients receive the highest-quality solutions tailored to their needs. Jatender Aujla,
Managing Partner at PCP, will join the BPL board, with the broader leadership remaining
unchanged.

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

The transaction is expected to close in Q4 2025 subject to customary regulatory approvals and
other closing conditions.

This news comes ahead of the 25th anniversary of BPL’s opening in Paris in July.