Stone Point Capital said it has acquired a majority interest in Asset Allocation & Management (AAM), a fixed income asset management firm that specialized in providing investment management services to the insurance industry. Terms of the deal were not released.
The Greenwich, Conn., based private equity firm said its Trident Funds, Trident IV, L.P., acquired the majority interest while KBW Capital Partners is acquiring a minority interest in AAM.
Stone Point Capital and KBW Capital Partners will be purchasing their interests in AAM from funds managed by Century Capital Management, which has owned a majority interest in AAM since 2003. In connection with the transaction, members of the management team of AAM will make an additional investment in AAM and will significantly increase their ownership interest in the company.
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