We continue to actively pursue partnerships with best-in-class management teams across our 10 elephants (sectors) and 75+ subsectors. Despite a difficult market, our portfolio continues to perform well, and we remain enthusiastic about our new investments in Trident IX and current pipeline. Our portfolio value increased by approximately $1.8 billion in 2022.2
Independent extended workforce management software platform supporting global enterprises
Independent RIA that provides wealth management advice and family office services to ultra high net worth individuals
B2B services and consulting platform focused primarily on the consumer lending and credit card sectors in North America
National commercial banking franchise headquartered in Jacksonville, Florida
Provider of supplemental benefits to the Medicare Advantage and Medicare Supplement markets for the seniors market
2022 represented a year of continued growth for Stone Point Credit. The platform has expanded to include direct lending, opportunistic credit and liquid credit strategies, enabling us to offer customized solutions to borrowers and our investors.
Stone Point Credit continues to leverage the firm’s broader resources and network to pursue credit-oriented investment opportunities across the financial services industry and related sectors. We committed $1.5 billion of capital during 2022 and actively manage $4.7 billion of assets across our commingled funds and separately managed accounts.
Our credit platform seeks to leverage Stone Point’s deep domain experience and extensive network to pursue a range of credit-oriented investment opportunities within our targeted sectors.
Stone Point Credit Corp (BDC)
Sponsor-backed, middle-market companies
Primarily senior secured, floating rate
SPC Opportunities Funds
Performing companies
Flexible private capital solutions
SPC Liquid Credit Fund
Performing companies
Rated, broadly syndicated instruments
Structured as Funds-of-One & Separately Managed Accounts with Targeted Mandates
Pursue customized investment mandates by leveraging Stone Point Credit’s range of investment strategies
Corporate citizenship continues to be a focus of Stone Point. In 2022, Stone Point supported 13 organizations that promote racial equity and social justice through education and other initiatives, as well as various other charitable causes. In addition, Stone Point employees have continued to partner with several organizations to provide mentoring and other volunteer services.
Stone Point Capital is a leading private equity firm, investing in businesses within the global financial services industry.
ENDNOTES
1 Reflects both the Trident and Credit Investment Committees. Trident and Credit IC tenures includes years worked at Stone Point’s predecessor, MMC Capital. Credit IC tenure also includes years worked at Stone Point Capital prior to the launch of Stone Point Credit.
2 Change in portfolio value reflects 2022 carrying value less 2021 carrying value plus distributions during 2022 less investments in 2022.
3 Only includes transactions which closed in 2022.
4 Includes TIAA Bank, a pending transaction that was signed in 2022 but has not yet closed and IEQ, a transaction that was signed in 2022 but closed in January 2023.
5 Estimated as of January 31, 2023. AUM represents total assets plus unfunded investor capital commitments.
6 Investment commitments represents funded investments plus unfunded investment commitments.
7 Includes three professionals whose focus is shared across Stone Point Credit and Stone Point Capital.
DISCLAIMER
The information contained herein is as of December 31, 2022, unless otherwise noted. The information and its contents are the property of Stone Point Capital LLC and Stone Point Credit Adviser LLC (together, “Stone Point”). Any unauthorized dissemination, copying or use of this Year in Review is strictly prohibited and may be in violation of law.
The information contained herein is not an offer to sell or a solicitation of an offer to purchase an interest in any entity or investment vehicle. Any such offer or solicitation will only be made through formal offering materials.
Past performance is not indicative or a guarantee of future performance.
Stone Point does not provide legal, accounting or tax advice. Any statement regarding such matters is explanatory and may not be relied upon as definitive advice. All investors are advised to consult with their legal, accounting and tax advisers regarding any potential investment.
