Stone Point Capital buying Rialto Investment and Asset Management
Published at: 2018-11-01 15:52 | Author: CIJ USA
An investment fund managed by Stone Point Capital signed a contract to buy Rialto Investment and Asset Management from Lennar Corporation for $340m. The deal is subject to consent by the funds managed by Rialto or the investors in those funds. Lennar will retain Rialto Mortgage Finance and its fund investments, totaling $294m as of Aug. 31, as well as its carried interests in various Rialto funds and investments in other legacy Rialto balance sheet assets. Deutsche Bank Securities and Wells Fargo Securities served as financial advisors for Lennar, while Goodwin Procter LLP acted as Lennar's legal counsel. Kramer Levin Naftalis and Frankel LLP acted as Stone Point's legal counsel.
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