Goldsmith teams up with Stone Point to form Cross Ocean Partners

Graham Goldsmith and Stone Point Capital have launched Cross Ocean Partners, an asset management platform focused on stressed and distressed credit investment opportunities. Goldsmith, Stone Point and management provided $240 million to Cross Ocean. A former head of global credit and special situations at Bank of America Merrill Lynch, Goldsmith will serve as Cross Ocean’s CEO and co-chief investment officer. In addition to the launch, Cross Ocean has acquired Capula Investment Management‘s European special situations business. No financial terms were disclosed. Barclays provided financial advice to Capula on the transaction.


Stone Point Capital and KKR to recap Privilege Underwriters

Stone Point Capital and KKR have agreed to recapitalize Privilege Underwriters, the holding company for the PURE Group of Insurance Companies. No financial terms were disclosed for the transaction that is being done with Privilege’s management. As a result of the deal, Stone Point will maintain its majority stake in Privilege while KKR will acquire a minority stake. Headquartered in White Plains, New York, PURE Group of Insurance Companies is a provider of personal insurance and risk management services to high net worth individuals and families.


Stone Point to invest in Broadstone Real Estate

Stone Point Capital is buying an equity interest in Broadstone Real Estate LLC. Financial terms weren’t announced. Broadstone is using proceeds to invest in two real estate offerings it currently manages: Broadstone Net Lease and Broadtree Homes. Once the deal closes, Broadstone Real Estate will be jointly owned by the Tait and Leenhouts families, Stone Point’s Trident VI fund and certain BRE employees.


PE-backed EPIC adds to team with new hire

Edgewood Partners Insurance Center, which is backed by The Carlyle Group and Stone Point Capital, has hired Myesha Lamison as director of benefits technology. Previously, Lamison worked at Zenefits where she served as a benefits program manager. Based in San Francisco, Edgewood Partners Insurance Center is a provider of retail property, casualty and employee benefits insurance.


PE-backed EPIC buys Sorci

EPIC Insurance Brokers and Consultants, which is backed by The Carlyle Group and Stone Point Capital, has acquired Sorci Insurance Brokerage. No financial terms were disclosed. Based in Los Gatos, California, Sorci is a provider of workers’ compensation insurance services.


Preston Hollow Capital inks $175 mln

Stone Point Capital has made a $175 million financing commitment to Dallas-based merchant bank Preston Hollow Capital. According to Preston Hollow Capital, the capital will be used to make acquisitions and investments as well as expand the company’s municipal finance specialty origination platform.


Stone Point Capital recaps Black Mountain Systems

Stone Point Capital has led a majority recapitalization of Black Mountain Systems, a provider of data and process management solutions for financial firm and asset managers. No financial terms were disclosed. SunTrust Robinson Humphrey advised Black Mountain Systems on the transaction.


Atlantic Capital buys First Security in $160 mln deal

Atlantic Capital Bancshares agreed Wednesday to buy First Security Group for about $160 million or $2.35 a share. Atlantic Capital has also signed a stock purchase agreement with Trident IV L.P. and Trident IV Professionals Fund L.P., funds managed by Stone Point Capital LLC for a $25 million private placement of Atlantic Capital common stock at $12.60 a share.


Stone Point Capital to acquire Situs

Stone Point Capital has agreed to acquire Houston-based Situs, which provides commercial real estate advisory services and related integrated process and technology solutions. No financial terms were disclosed. The sellers are Ranieri Partners and WL Ross & Co. The transaction is expected to be completed in the first quarter of this year.

mystery man

Who is buying Situs Holdings?

Ranieri Partners is close to announcing the sale of Situs Holdings. The buyer is a very large private equity firm that is well known in the mortgage services space, peHUB has learned.


PE-owned Duff & Phelps agrees to acquire Kinetic Partners

Corporate finance advisor Duff & Phelps has agreed to buy Kinetic Partners. No financial terms were disclosed. Kinetic Partners is a provider of professional services. The deal is expected to be completed in early 2015. Duff & Phelps is owned by The Carlyle Group, Stone Point Capital, Pictet & Cie and Edmond de Rothschild Group.


Securian to buy majority stake in AAM

Securian Financial Group has agreed to acquire a majority stake in Asset Allocation & Management Company from a private equity fund overseen by Stone Point Capital and related investors. No financial terms were disclosed. The transaction is expected to be completed on December 31. Based in Chicago, AAM is an insurance asset manager.


Stone Point Capital to acquire Oasis Outsourcing

Stone Point Capital has agreed to buy Oasis Outsourcing, a portfolio company of Nautic Partners and Altaris Capital Partners. No financial terms were disclosed. The deal is expected to close by the end of 2014. Oasis is a provider of human resources solutions for small and medium-sized businesses.


Access Point Financial expands team with new hire

Access Point Financial has hired David Wahl as managing director of portfolio management. Previously, Wahl worked at Trimont Real Estate Advisors. Formed by APF management and Stone Point Capital, APF is an Atlanta-based lending and advisory platform.


EPIC co-founder Francis to leave

Dan Francis, the Co-founder and Executive Chairman of Edgewood Partners Insurance Center, has elected to leave the company effective Nov. 1. San Francisco-based Edgewood Partners is a national retail property, casualty insurance brokerage and employee benefits consultant. The Carlyle Group acquired EPIC in 2013. Stone Point Capital is also an investor.

PE HUB Community

Join the 12525 members of PE HUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget