Core Insights - BCP has successfully closed the sale of The Gray Casualty & Surety Company to Palomar Holdings, marking a significant milestone in its investment strategy [1][4] Group 1: Company Overview - BCP is a private equity management firm focused on services and infrastructure, established in 2013, with $6 billion in assets under management [6] - The Gray Casualty & Surety Company specializes in contract surety bonds for midsized and emerging contractors across the U.S., and is licensed in all 50 states [2][7] Group 2: Investment and Growth - BCP invested in Gray Surety in 2021, and since then, the company has experienced significant growth and expanded its national presence [2][4] - Gray Surety is recognized as a Top 50 surety carrier, maintaining a strong reputation among contractors [7] Group 3: Transaction Details - The sale of Gray Surety is one of three exits announced by BCP in the latter half of 2025, alongside the sales of Brown & Root Industrial Services and United Utility [3] - J.P. Morgan and Evercore acted as financial advisors for Gray Surety and Palomar, respectively, while Kirkland & Ellis LLP and DLA Piper LLP provided legal advisory services [4]