On May 3, Kramer Levin client Stone Point Capital announced that it has formed NXT Capital, a commercial finance company focusing on middle-market borrowers and investors. NXT Capital provides structured financing solutions to middle-market clients through its Corporate Finance and Real Estate Finance groups, originating transactions directly on a national basis. Stone Point Capital is a global private equity firm.

The Kramer Levin team that advised Stone Point on this venture included Corporate partners Howard T. Spilko and Ernest S. Wechsler, and associates Jonathan B. Vessey and Antonia S. Lee; Tax partner Barry Herzog; Employee Benefits and Executive Compensation special counsel Avram J. Cahn; and Employment Law Special Counsel Steven M. Knecht.

The transaction was reported on in The Daily Deal.