Stone Point Capital Acquires Situs

Situs announced it would be acquired by Stone Point Capital LLC, a private equity firm focused on investing in the global financial services industry.

New York—Situs announced it would be acquired by Stone Point Capital LLC, a private equity firm focused on investing in the global financial services industry. Stone Point is acquiring the stake in the company from Ranieri Partners and WL Ross & Co. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2015. The terms of the transaction were not disclosed.

As part of the transaction, Situs’s president, Steve Powel, will transition to the role of CEO and lead the firm through its next phase of development.