Newport Beach, Calif.-based Alliant Insurance Services announced a significant equity investment from funds managed by Stone Point Capital LLC.
In connection with the transaction, funds managed by Stone Point will become Alliant’s largest institutional shareholders. Following the transaction, Alliant’s existing shareholders, which include the company’s management and producers as well as funds affiliated with global investment firm KKR, will remain significant shareholders in the business.
“This new partnership is a significant and positive move for Alliant, as it represents the expansion and diversification of our private equity support,” Tom Corbett, chairman and CEO of Alliant, said in a statement. “Stone Point will be a valuable resource to our organization as we continue to pursue growth opportunities across all aspects of our business. We are honored to stand alongside Stone Point and KKR in a true multifaceted partnership.”
KKR made the investment from its North American XI fund.
Alliant is a large national insurance brokerage firm. KKR is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. Stone Point is a financial services-focused private equity firm based in Greenwich, Conn.
Was this article valuable?
Here are more articles you may enjoy.