The death toll from heavy rains that inundated parts of San Antonio
has risen to 13, and all those missing have been found, authorities said.
More than 7 inches (18 centimeters) of rain fell over a span of hou
rs on Thursday, causing fast-rising floodwaters to carry more than a dozen cars into a creek.
Some people climbed trees to escape. Firefighters rescued
more than 70 people across the nation’s seventh-largest city.
More than a dozen cars got stuck or overturned in Beital Creek. The
San Antonio Fire Department said 11 of those who died were found in the Perrin Beitel search area around the cree
k. One person was found several miles upstream.
Photo: Authorities respond after vehicles were swept away b
y floodwaters in San Antonio, Tx., on Thursday, June 12, 2025. (AP Photo/Lekan Oyekanmi)
Trucordia today announced it will receive a $1.3 billion strategic inve
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stment from global investment firm Carlyle’s Global Credit platform.
The investment values Trucordia at $5.7 billion, and it will reduce the
company’s debt relative to equity while simplifying its governa
nce structure by repurchasing units from existing minority investors.
Carlyle’s “continued interest and investment in us, from a strategic standpoint, really gives us the ability to matur
e as an organization and drive initiatives,” said Felix Morgan, CEO
of Trucordia, in an interview with Insurance Journal.
The transaction, expected to close this month, is looked at to improve Trucordia’s position from a leverage standpo
int, giving it long-term financial flexibility to achieve it’s “Ascend” strategy.