Investment Summary

Stone Point Capital and HarbourVest Partners Invest In Preston Hollow Capital

On April 22, 2015, private equity firms Stone Point Capital and HarbourVest Partners invested in financial services company Preston Hollow Capital

Investment Highlights
  • This is Stone Point Capital’s 24th and HarbourVest Partners’ 9th transaction in the Financial Services sector.
  • This is Stone Point Capital’s 57th and HarbourVest Partners’ 80th transaction in the United States.
  • This is Stone Point Capital’s 5th and HarbourVest Partners’ 12th transaction in Texas.

Investment Summary

Date 2015-04-22
Target Preston Hollow Capital
Sector Financial Services
Investor(s) Stone Point Capital
HarbourVest Partners
Deal Type Growth Capital

Target

Preston Hollow Capital

Dallas, Texas, United States
Preston Hollow Capital is an independent specialty finance company focused on directly originated and negotiated municipal project finance transactions. Preston Hollow Capital was founded in 2014 and is based in Dallas, Texas.

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Investor(S) 2

Investor

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $75 and $750 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 68 of 120
Sector: Financial Services M&A 24 of 38
Type: Growth Capital M&A Deals 7 of 18
State: Texas M&A 5 of 12
Country: United States M&A 57 of 108
Year: 2015 M&A 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-31 Black Mountain Systems

San Diego, California, United States

Black Mountain Systems is a software company that develops tailored solutions for data aggregation, process management, and business reporting. Global investment firms use Black Mountain's proven Everest platform to add operating efficiency and reduce risk by eliminating the boundaries between systems, information, and people, allowing employees to focus on high-value activities that drive investment performance. Black Mountain Systems is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-02 Broadstone Net Lease

Victor, New York, United States

Broadstone Net Lease is an internally-managed real estate investment trust (“REIT”) focused on single-tenant commercial real estate properties in the United States. BNL’s diversified portfolio consists of properties in the U.S. and Canada across the industrial, healthcare, restaurant, retail and office property types.

Buy -
Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 129 of 214
Sector: Financial Services M&A 9 of 15
Type: Growth Capital M&A Deals 19 of 32
State: Texas M&A 12 of 21
Country: United States M&A 80 of 130
Year: 2015 M&A 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-15 Caplugs

Buffalo, New York, United States

Caplugs is a designer, manufacturer and marketer of injection-molded plastic and vinyl protection products. Caplugs has six manufacturing processes, including injection molding, vinyl-dip molding, vinyl coating, extrusion, compression molding, and die-cutting that offer customers a wide range of options and bring value as a long-term partner. Caplugs has ten global manufacturing facilities in New York, Pennsylvania, California, Texas, Holland, Belgium, Australia, Canada, and China. Caplugs was founded in 1948 and is headquartered in Buffalo, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-24 Riverbed

San Francisco, California, United States

Riverbed is a provider of software for mobile computing applications services. Riverbed delivers application performance for the globally connected enterprise. It helps clients in implementing strategic initiatives such as virtualization, consolidation, cloud computing, and disaster recovery. Riverbed was founded in 2002 and is based in San Francisco, California.

Buy $3.5B