• Investment Year:2015
  • Status:Past
  • Stage:
  • HQ:Greenwich, CT

Sector(s)

Greenspoint Capital

Greenspoint Capital is a special purpose vehicle formed by Trident to acquire a closed block of Bank-Owned Life Insurance (BOLI) commissions and service revenues.

Greenspoint’s BOLI block is serviced by The Newport Group, a Trident portfolio company that acquired, from the same seller, the ongoing operations of Clark Consulting.

INDUSTRY KNOWLEDGE & NETWORK

Stone Point was uniquely able to provide seller with speed and certainty to execute the transaction with limited contingencies, including providing an ongoing solution for seller’s clients and employees.

CAPITAL RAISING & STRUCTURING

Stone Point provided “bridge” capital to facilitate closing the acquisition, followed by a securitization of the block’s cash flows.

OPERATIONAL ASSISTANCE & GOVERNANCE

The Newport Group, a Trident portfolio company which already serviced over $10 billion of BOLI CSV, acquired the operations unit that serviced Greenspoint’s BOLI block from the seller. This provided ongoing employment for the seller’s operations staff and ensured continuity of quality servicing for the bank clients, minimizing reputational risk to the seller.

EXIT STRATEGY

Stone Point was instrumental in leading the process for the securitization exit; BOLI asset securitizations are esoteric and require specialized experience and skillset.

We wouldn’t have pursued the transaction with any firm other than Stone Point. The Stone Point team had the knowledge of the area, the experience, and the credibility to complete this transaction better than anyone. And, even more importantly, the people at Stone Point are simply the best. What a joy they are to work with.
Robert E. Long, Partner of Greenspoint Capital

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.