Stone Point Capital, a private equity firm focused on global financial services and related industries, has agreed to acquire a majority interest in Kestra Holdings, replacing current partner Warburg Pincus. Financial terms of the deal were not disclosed.
Kestra Holdings offers wealth management platforms for independent wealth management professionals nationwide. Its companies support independent financial professionals across the country in delivering comprehensive securities, trust and investment advisory services to their clients.
Stone Point first invested in Kestra Holdings in 2016 to support its spinout from NFP before becoming a minority investor in 2019. In 2022, Stone Point sold its minority interest to Oak Hill Capital, which will remain a minority owner in Kestra Holdings.
Following the transaction, the Kestra Holdings management team and a large number of Kestra-affiliated financial advisers and principals affiliated with Bluespring Wealth Partners,