Friedman’s Stone Point Joins XL in Insurance-Linked Security Bet

Stone Point Capital LLC, led by Chairman Stephen Friedman, joined XL Group Plc in a new venture to oversee insurance-linked securities.

XL and funds managed by Stone Point will invest as much as $135 million, the companies said today in a statement distributed by PR Newswire. XL will have a 75 percent stake in the company, according to the statement.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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