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.

Stone Point Capital Agrees to Acquire Majority Interest in Kestra Holdings (Recapitalization)

October 19, 2024

Financial Services

Funds managed by Stone Point Capital have agreed to acquire a majority interest in Kestra Holdings’ parent partnership, replacing Warburg Pincus as the current partner. Oak Hill Capital will remain a minority owner, while the Kestra management team and Bluespring-affiliated principals will retain equity positions.

Guardian Capital LLC Acquires Sterling Capital Management from Truist Financial

February 3, 2024

Financial Services

Guardian Capital Group Limited announced it has agreed for its wholly owned subsidiary, Guardian Capital LLC, to acquire Sterling Capital Management from Truist Financial Corporation. The purchase is for $70 million on closing to buy 100% of Sterling’s equity, subject to customary adjustments and earn-outs, with anticipated closing in Q2 2024.

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.