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

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.

Warburg Pincus Recapitalizes Kestra Financial; Stone Point Retains Minority Stake

February 25, 2019

Financial Services

Warburg Pincus agreed to acquire a majority interest in Kestra Financial in a recapitalization transaction, with funds managed by Stone Point Capital retaining a minority stake and Kestra management and certain advisors keeping equity. The deal will provide growth capital to expand Kestra's advisor platform, technology and recruiting initiatives and is expected to close subject to regulatory approvals.

Stone Point Capital Makes Growth Investment in ClearPoint Health

January 8, 2024

Healthcare Services

Stone Point Capital has announced a strategic growth investment in ClearPoint Health, a Columbia, South Carolina-based medical stop-loss captive platform that helps small and mid-sized employers and benefit advisors implement transparent, affordable employee health benefit programs. The capital will be used to accelerate ClearPoint's national expansion, scale its captive platform and deepen its advisor-first, clinically integrated stop-loss and benefits solutions.

Truist Insurance Holdings Acquires Constellation Affiliated Partners from RedBird Capital Partners

May 24, 2021

Insurance

Truist Insurance Holdings, a subsidiary of Truist Financial Corporation, signed a definitive agreement to acquire Constellation Affiliated Partners from RedBird Capital Partners. The acquisition adds approximately $160 million of annual revenue and seven MGAs/program managers to Truist's wholesale division, enhancing its national programs capabilities.

Stone Point Capital Invests in Safe-Guard Products International

January 27, 2020

Insurance

Funds managed by Stone Point Capital LLC have made a strategic investment in Safe-Guard Products International, a leading provider of third-party private-label vehicle protection products. Goldman Sachs Merchant Banking Division will retain a minority stake, and Stone Point said it will support Safe-Guard's continued investment in technology, product and service infrastructure to drive growth.

Stone Point Capital Makes Strategic Investment in Allied Benefit Systems

February 18, 2021

Healthcare Services

Funds managed by Stone Point Capital have made a strategic investment in Allied Benefit Systems, a Chicago-based third-party administrator of group health benefits. Allied's management will remain in place and the capital will support the company's next phase of growth as Stone Point positions Allied for market consolidation and continued expansion of its benefits and cost-containment solutions.