Stone Point and GIC Near $3 Billion Deal for Ascensus
- Genstar, Aquiline to retain minority stake in company
- Ascensus is a provider of retirement and savings accounts
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Stone Point Capital and GIC Pte agreed to buy a majority stake in retirement and savings account provider Ascensus Inc.
The investment firms are buying the company from backers including Genstar Capital, Aquiline Capital Partners and Atlas Merchant Capital, according to a statement Monday, confirming an earlier Bloomberg News report. Genstar and Aquiline are keeping a minority stake. Terms of the deal weren’t disclosed.