Stay updated with breaking news from Stone Point. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Stockholders to Receive $53 per Share in CashNEW YORK, NY / ACCESSWIRE / February 27, 2023 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus" or the "Company"), a leading partnership of independent
Stone Point Capital will take a 20% stake in the insurance unit.
After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
Funds managed by Stone Point Capital will take on the share for $1.95 billion
The transaction allows Truist to maintain strategic flexibility and future upside in Truist Insurance Holdings.