Truist Financial announced that it has reached a definitive agreement to sell its remaining stake in Truist Insurance Holdings to an investor group led by private equity firms Stone Point Capital and Clayton, Dubilier & Rice (CD&R) for $15.5 billion. Mubadala Investment Company and other co-investors are also participating in the investment. Truist was represented by Davis Polk & Wardwell. Stone Point Capital was advised by Simpson Thacher & Bartlett and Paul, Weiss, Rifkind, Wharton & Garrison. CD&R was counseled by Debevoise & Plimpton. Mubadala was represented by Skadden, Arps, Slate, Meagher & Flom. Latham & Watkins represented the lenders in a financing for Truist Financial.
Investment Firms
February 21, 2024, 5:35 PM