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Stone Point Capital Funds Acquire Majority Stake in First Associates Loan Servicing
Thursday 18 July 2019

18 July 2019 - Funds managed by private equity firm Stone Point Capital LLC (Stone Point) have acquired a majority interest in US-based First Associates Loan Servicing, LLC (First Associates), the company said.
This transaction positions First Associates well to continue to build upon years of partnerships with clients, an ongoing commitment to excellence and a track record of delivering outstanding growth and performance.
As a key part of this transaction, First Associates and Portfolio Financial Servicing Company, a current Stone Point portfolio company, will combine operations.
The combined organisation will continue to specialise in loan and lease servicing, capital markets and customer service support with an exceptional focus on technology and compliance.
First Associates offers industry expertise, technology and provides flexible, scalable solutions.
Portfolio Financial Servicing Company is a third-party private label servicer of commercial and consumer leases, loans and annuity type transactions (inclusive of structured settlements, lottery prize and royalty-based receivables).
Since 1992, PFSC has serviced billions in asset value for a diverse group of clients across the US and Canada. PFSC provides a comprehensive suite of services including primary servicing, successor servicing and backup servicing.
PFSC also provides certain focused services such as document custodianship and verification agent services, multi-state vehicle titling and multi-state sales/use and personal property tax reporting and compliance. 
Stone Point Capital is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds the Trident Funds with aggregate committed capital of approximately USD 19bn.
Date Published: 18/07/2019
Target: First Associates Loan Servicing, LLC (First Associates)/majority stake
Country: USA
Sector: Banking/Financial Services
Type: LBO
Status: Closed
Buyer: Stone Point Capital LLC (Stone Point)
Terms of the deal were not disclosed