A Greenwich-based private equity firm has co-invested in an Atlanta-based insurance brokerage that has a sizable presence in Connecticut.
Greenwich-based Stone Point Capital and the Toronto Canada Pension Plan Investment Board, also known as CPP Investments, have made a majority $2.3 billion investment in OneDigital.
Stone Point, which has $70 billion in assets under management, and CPP will make the investment by acquiring a stake from existing shareholders, including Onex Partners, which will remain a significant minority owner, OneDigital said in announcing the deal.
OneDigital said the deal marks the company’s fourth equity recapitalization since being founded 25 years ago. It has five major business segments including employee benefits and HR, retirement and wealth management, property and casualty, professional employer organizations and Medicare Advantage.
OneDigital says it has more than 4,000 professionals across over 200 offices serving every state. In Connecticut, it has offices in Branford, Canton and Farmington.
OneDigital said the investment will support its continued growth, driven by organic expansion and strategic acquisition.
The deal is expected to close in the fourth quarter of 2025, subject to regulatory approvals.
Stone Point is an alternative investment firm with more than $70 billion of assets under management. It targets investments in companies in the global financial services industry and related sectors. The firm invests in alternative asset classes, including private equity through its Trident Funds and credit through commingled funds and separately managed accounts.
