NEW YORK April 1, 2015 – Situs, the premier global provider of strategic business solutions for the real estate and financial services industries, and funds managed by Stone Point Capital LLC (Stone Point), a leading private equity firm focused on investing in financial services businesses, today announced the successful completion of Stone Point’s previously announced acquisition of Situs.
With the completion of the acquisition, Steve Powel assumes the role of CEO and Bruce Nelson assumes the role of President. “This is an exciting time for Situs as we continue to grow and expand our business with our new partner, Stone Point,” said Steve Powel. “Stone Point’s investment enables Situs to scale and capitalize on new opportunities, positioning the firm to be a truly strategic business partner to our clients.”
For more than 30 years, Situs has been a pioneer in the real estate and financial services industries, offering strategic business solutions to the world’s top financial institutions, investors, owners and developers. Situs has evaluated more than $1 trillion in Commercial Real Estate (CRE), resolved more than $50 billion in distressed assets and has more than $100 billion of assets under management. With operations in North America, Europe and Asia, and a broad solutions portfolio encompassing Advisory Services, Loan Servicing, Risk Management, Consulting & Staffing, Valuation Advisory, and Business Process Outsourcing, Situs provides comprehensive solutions across debt and equity CRE and other credit transactions.
“Situs has been an innovative leader in the commercial real estate industry for many years,” said Chuck Davis, Chief Executive Officer of Stone Point. “We are pleased to be partnering with Situs and its outstanding management team during this next stage of the company’s development and growth.”
About Situs Situs, the premier global provider of strategic business solutions for the real estate and financial services industries, has offered customized services to leading financial institutions, investors, owners, and developers since 1985. Situs offers a broad portfolio of strategic solutions including Advisory Services, Loan Servicing, Risk Management, Consulting & Staffing, Valuation Advisory, and Business Process Outsourcing, among others. Situs’ business provides customized solutions that mitigate deal execution risk for clients while maximizing operating margins. Situs is headquartered in Houston with offices throughout the United States, Europe and Asia.
About Stone Point Capital LLC Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised six private equity funds – the Trident Funds – with aggregate committed capital of approximately $13 billion. In addition to the capital invested by the Trident Funds, Stone Point has secured approximately $7 billion of equity co-investments since 2001. 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 further information about Stone Point Capital, see www.stonepoint.com