Eagle Point is an asset manager formed in 2012 by Trident and Tom Majewski. Eagle Point invests in structured credit securities, including the equity and junior debt tranches of collateralized loan obligations (CLOs).
Eagle Point has focused on investing in majority equity stakes in newly issued CLOs managed by proven collateral managers. As the majority equity investor in these CLOs, Eagle Point negotiates preferred economic terms that enable the funds to generate enhanced returns.
INDUSTRY KNOWLEDGE & NETWORK
Stone Point’s relationships across the structured finance landscape, including with investment banks, CLO managers and private equity issuers, have facilitated Eagle Point’s growth.
INTRODUCTION TO CLIENTS & PARTNERS
Stone Point capitalized on its close relationships with investment banks to attract underwriting interest in Eagle Point, which at the time had only a 1.5-year track-record. Stone Point’s relationship ensured senior-level focus on a relatively small public offering for Eagle Point Credit Company (NYSE: ECC), which has subsequently been upsized through follow-on offerings.
Stone Point has provided ongoing assistance in evaluating acquisitions and organic expansion opportunities, most notably the December 2016 acquisition of a CLO platform that has since been rebranded as Marble Point Credit Management.
BUSINESS & PRODUCT DEVELOPMENT
At the company’s outset, Stone Point collaborated with Eagle Point’s senior management team to develop a business plan, financial model and fund structuring. Trident has provided seed capital to launch each of the company’s new product initiatives.
EXECUTIVE RECRUITING & ALIGNMENT
Stone Point has helped management build the necessary infrastructure as well as recruit additional candidates to broaden and strengthen the team over time.
CAPITAL RAISING & STRUCTURING
Stone Point has facilitated introductions that have led to more than $500 million of third party capital, primarily from Trident fund limited partners and other close relationships.
OPERATIONAL ASSISTANCE & GOVERNANCE
Stone Point provided Eagle Point with back-office, compliance and legal support as the company was developing its infrastructure. Stone Point has made introductions to leading third party vendors to provide compliance and HR assistance, where appropriate.
Investments highlighted or discussed in this selection have been selected to illustrate SPC’s investment approach and/or market outlook and are not intended to be an indicator of past or future performance. Each investment discussed in this selection has been selected solely for this purpose and has not been selected on the basis of performance or any performance-related criteria. The investments discussed herein do not represent an entire portfolio and in the aggregate may only represent a small percentage of holdings. Nothing in this presentation shall constitute a recommendation or endorsement to buy or sell any security or other financial instrument referenced herein.