NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Alliant Insurance Services, one of the nation’s largest independent insurance brokerage firms, has announced that the Public Sector Pension Investment Board (PSP Investments) is making an investment in the firm. The investment by the Canadian pension investment manager is joined by an additional investment from funds managed by Stone Point Capital LLC. Following the transaction, funds managed by Stone Point will remain Alliant’s largest institutional shareholders, while the company’s management and producers will continue to own the majority of the firm.
“Alliant looks forward to partnering with PSP Investments as we enter this exciting new stage in our growth strategy,” said Tom Corbett, Chairman and CEO of Alliant. “Both PSP and Stone Point have a proven history of success in our industry, and their combined financial strength and market expertise will be a significant asset to Alliant as we move forward.”
“Alliant is one of the nation’s leading insurance brokerage platforms, with proven leadership, broad industry reach, and operational strength,” said Martin Longchamps, Managing Director at PSP Investments. “We embrace the opportunity to work alongside Alliant in facilitating its continued growth and expansion.”
“We are delighted to be partnering with PSP and the Alliant management team in this transaction and increasing our investment in Alliant,” said Jim Carey, Senior Principal at Stone Point Capital. “Alliant is a premier specialty insurance brokerage business with industry-leading organic growth. We are looking forward to continuing with the company in the next phase of that growth.”
About Alliant Insurance Services
Headquartered in Newport Beach, CA, Alliant Insurance Services, Inc. provides property and casualty, workers’ compensation, employee benefits, surety, and financial products and services to clients nationwide, including public entities, tribal nations, healthcare, energy, law firms, real estate, construction, and other industry groups. More information is available on the company’s website at www.alliant.com.
About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers with $158.9 billion of net assets as of September 30, 2018. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York and London. For more information, visit investpsp.com or follow PSP Investments on Twitter and LinkedIn.
About Stone Point Capital
Stone Point Capital LLC 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 $19 billion. Stone Point targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. For more information about Stone Point, visit www.stonepoint.com.