Truist Insurance Holdings Acquires Constellation Affiliated Partners from RedBird Capital Partners

Constellation Affiliated Partners Acquires Trinity Transportation Services and Global Claims Service

November 3, 2020

Insurance

Constellation Affiliated Partners acquired managing general agent Trinity Transportation Services and third-party administrator Global Claims Service to expand its transportation insurance platform and claims capacity. The deals integrate Trinity's towing and recovery insurance programs and Global's claims capabilities into Constellation's MGA platform, which is backed by RedBird Capital Partners.

Constellation Affiliated Partners Acquires Coastal Insurance Underwriters and Cybercom

December 29, 2020

Financial Services

Constellation Affiliated Partners, a New York-based insurance consolidator platform backed by RedBird Capital Partners, has acquired Coastal Insurance Underwriters and Cybercom. The deal brings Coastal's program administration and underwriting capabilities for condominium and homeowner associations together with Cybercom's web-based quoting/underwriting platform to expand Constellation's product and technology offerings in the U.S. market.

Constellation Affiliated Partners Acquires INSUREtrust

January 14, 2021

Insurance

Constellation Affiliated Partners has acquired INSUREtrust, a specialty wholesale broker and managing general agent (MGA) headquartered in the Atlanta, Georgia area; financial terms were not disclosed. The deal expands Constellation's portfolio and technology-enabled cyber liability and technology E&O capabilities; INSUREtrust founder Steve Haase is retiring and Christiaan Durdaller was named President and CEO.

Stone Point and Co-Investors Acquire 20% Stake in Truist Insurance Holdings

April 3, 2023

Financial Services

Funds managed by Stone Point Capital, with co-investors including Mubadala Investment Company and other unnamed investors, acquired a 20% minority stake in Truist Insurance Holdings from Truist Financial Corporation for $1.95 billion, implying an aggregate valuation of $14.75 billion. Truist retains an 80% majority stake; the partnership is intended to provide growth capital and industry expertise to support future growth and consolidation of the insurance business.

Stone Point and CD&R Acquire Truist Insurance Holdings (TIH)

February 20, 2024

Insurance

Private equity firms Stone Point Capital and Clayton, Dubilier & Rice (CD&R), with participation from Mubadala Investment Company and other co-investors, acquired Truist Insurance Holdings (TIH) from Truist Financial Corporation in an all-cash transaction valuing TIH at an implied enterprise value of $15.5 billion. The deal establishes TIH as an independent, standalone insurance brokerage platform headquartered in Charlotte, North Carolina, with management and over 1,500 employee equity participants remaining invested in the business.

Capital Constellation Acquires Minority Stake in Avista Capital Partners

January 12, 2021

Financial Services

Capital Constellation, a group of institutional investors managed by Wafra Inc., acquired a minority ownership interest in New York-based private equity firm Avista Capital Partners. The strategic investment provides Avista with growth capital to expand its healthcare-focused investment platform and increase commitments to its funds; Houlihan Lokey and Kirkland & Ellis served as advisors on the transaction.