Announcements
Sept. 01, 2015

Kramer Levin Represents Stone Point Capital in Acquisition of Clark Consulting and Related Joint Venture

On September 1, 2015, Greenspoint Capital LLC and The Newport Group closed a previously-announced acquisition from Aegon USA, LLC, a subsidiary of Aegon N.V. (AGN:NA), of Clark Consulting, Aegon's bank-owned life insurance (BOLI) distribution and servicing unit in the United States, for a purchase price of approximately $175-180 million. Newport acquired the Greensboro, NC operations of Clark Consulting and its broker-dealer subsidiary Clark Securities, Inc., and Greenspoint will retain the remaining assets of the Clark Consulting. Greenspoint is a newly-formed joint venture between funds managed by Kramer Levin client Stone Point Capital, LLC and A2 Capital Insurance Services, LLC. Kramer Levin represented Stone Point in the formation of Greenspoint and the purchase transaction.

The Kramer Levin team was led by Corporate partner Howard T. Spilko and associates Jonathan B. Vessey and Raymond S. Hedaya and included Corporate partners Laurence Pettit and Daniel A. Rabinowitz and associate Jennifer Li, Tax partner Barry Herzog, Litigation partner Arthur Aufses, Employment Law partner Robert Holtzman and special counsel Izabel McDonald, Intellectual Property partner Randy Lipsitz and Employee Benefits special counsel Avram J. Cahn.

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