Pierpont Securities Holdings, which is backed by Stone Point Capital and General Atlantic, has closed its buy of Cortview Capital Holdings after receiving FINRA approval. The two companies will continue to operate as separate broker-dealers until first quarter when the two firms will combine into a single entity called Pierpont Securities. Cortview, a Richmond, Va.-based broker-dealer, was launched in 2010 with a $125 million investment from Warburg Pincus.
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Pierpont Securities LLC has launched as a government securities broker-dealer, with $200 million in capital commitments from General Atlantic and Stone Point Capital. Company management has committed an additional $20 million.