Stone Point Capital said it has acquired a majority interest inAsset Allocation & Management (AAM), a fixed income assetmanagement firm that specialized in providing investment managementservices to the insurance industry. Terms of the deal were notreleased.
The Greenwich, Conn., based private equity firm said its TridentFunds, Trident IV, L.P., acquired the majority interest while KBWCapital Partners is acquiring a minority interest in AAM.
Stone Point Capital and KBW Capital Partners will be purchasingtheir interests in AAM from funds managed by Century CapitalManagement, which has owned a majority interest in AAM since 2003.In connection with the transaction, members of the management teamof AAM will make an additional investment in AAM and willsignificantly increase their ownership interest in the company.
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