Stone Point and KKR Form KKR – SPC Merchant Advisors

Stone Point Capital and KKR have formed a partnership to establish a new company, KKR – SPC Merchant Advisors LLC. The newly formed company will provide principal and agency-based capital markets services to mid-market and sponsor-backed companies as well as make certain principal investments to support client needs. PRESS RELEASE Stone Point Capital (“Stone Point”), […]

Alterra Forms Another Sidecar, New Point V

Alterra Capital Holdings, which is backed by Stone Point Capital, has formed another sidecar. New Point V, which also has funding from Stone Point, has raised about $210 million to invest in the property catastrophe collateralized reinsurance marketplace. Stone Point is the manager of Trident Funds. PRESS RELEASE Alterra Capital Holdings Limited (“Alterra”) (NASDAQ: ALTE; […]

Access Point Financial Secures Stone Point Investment, Wells Fargo Capital Facility

Access Point Financial has closed on a senior secured credit facility with Wells Fargo Capital Finance, part of Wells Fargo & Co. Stone Point Capital, a Greenwich, Conn. PE firm, has also made a “substantial” equity investment in Access Point, according to a statement. Access Point, formed by APF management and Stone Point, is a lender and advisory company focused on the hospitality industry.

Preferred Concepts Promotes Horn

Preferred Concepts, which is backed by Stone Point Capital, has promoted Larry Horn to oversee all Client Services activities for the firm. Preferred Concepts, of New York, is a national insurance program administrator and specialty broker.


PE Deals Surged in 2010 While Fundraising Still Sucks

Private equity deals may have rebounded in 2010 but fundraising certainly didn’t.

According to Preqin, 484 PE funds achieved a final close in 2010 and raised just $225 billion, the lowest amount since 2004. Fundraising was supposed to improve in fourth quarter but that didn’t work out. Only 92 funds reached a final close in the time period, raising just $32 billion, Preqin says. This is down from the 195 funds in fourth quarter 2009 that raised $59.6 billion.

Stone Point Capital Raises $3.5 Bln With Fifth Fund

Stone Point Capital said late Wednesday that it had closed its fifth PE fund at $3.5 billion. Trident V LP exceeded Stone Point’s target of $2.25 billion, a statement said. Greenwich, Conn.-based Stone Point is a PE firm focused on financial services.

Stone Point Capital, Fiserv Acquire Progressive Medical

Progressive Enterprises, a holding company owned by private equity firm Stone Point Capital and publicly traded Fiserv Inc., has acquired pharmacy benefit manager Progressive Medical. Financial terms of the deal were not released. Progressive Medical is based in Westerville, Ohio, and focuses on the workers’ compensation and auto no-fault markets. Progressive Enterprises was formed by Stone Point and Fiserv as a holding company for a portfolio of insurance services businesses. Stone Point is based in Greenwich, Conn.

NXT Capital Adds $75 Million For Middle-Market Financing

Middle-market commercial finance company NXT Capital has added $50 million from private equity firm Stone Point Capital, and $25 million from an undisclosed U.S. corporate pension fund, bringing its total capitalization to roughly $530 million. Chicago-based NXT Capital was formed earlier this year by the Greenwich, Conn.-based Stone Point Capital, and by former principals of Merrill Lynch Capital.

Sedgwick CMS Switching Sponsors for $1.1 Billion

Stone Point Capital and Hellman & Friedman have agreed to acquire Sedgwick Claims Management Services Inc., a Temphis, Tenn.-based provider of claims and productivity management solutions to corporate and institutional clients. The deal is valued at $1.1 billion, with sellers including Fidelity National Financial, THL Partners and Evercore Capital Partners.

Who Was Invited to Sheila Bair’s Roundtable? Not Many GPs

Today the FDIC announced what we’ve known since last week- it held a little meeting with a motley crew of people who care about private equity investments in banks.

Strangely, that group only included three private equity pros out of 20 attendees. The rest represented pension funds, private investors, investment managers, advisors, hedge fund managers and “others,” all gathered to conduct the much-clamored about six-month review. The GPs include David Coulter of Warburg Pincus, Charles Davis of Stone Point Capital and Randal Quarles of Carlyle Group.

The lack of GPs, or perhaps the lack of sympathy to their concerns, likely contributed to the failure to get any of the FDIC’s stringent rules relaxed, at least so far. There could be a further announcement as to any policy changes, but the FDIC’s press release today doesn’t leave much room for optimism.

PE Firms Back Launch of Pierpont Securities

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.

Real Estate Disposition Adds On

Real Estate Disposition LLC, a real estate auction company backed by Stone Point Capital, has agreed to acquire the retail title insurance agency platform of Pulte Homes Inc. (NYSE: PHM). No financial terms were disclosed.

Stone Point Selling Signal Holdings

Stone Point Capital has agreed to sell Wayne, Pa.-based wireless handset insurer Signal Holdings LLC to Assurant Inc. (NYSE: AIZ) for $250 million in cash. PRESS RELEASE Assurant, Inc. (AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that it has entered into an agreement with Signal Holdings LLC, a […]

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