Stone Point Capital Leads Acquisition of Remaining Stake in Truist Insurance in $15.5 Billion Deal

Paul, Weiss is serving as debt financing counsel to Stone Point Capital as a lead investor in the all-cash acquisition of the remaining stake in Truist Insurance Holdings, Inc., a subsidiary of Truist and the nation’s fifth-largest insurance brokerage, in a deal valuing the company at $15.5 billion.

Under the terms of the transaction, Truist will sell its remaining stake to an investor group led by Stone Point and Clayton, Dubilier & Rice and including Mubadala Investment Company and other co-investors. The deal is expected to close during the second quarter of 2024, subject to customary regulatory reviews and approvals.

The Paul, Weiss team is led by corporate partners Eric Wedel, Ben Steadman, Caroline Epstein, Brian Janson and Luke Jennings, and includes counsel Adam Longenbach and tax partner Robert Holo and counsel Samir Kurani and Patrick Karsnitz.