Stone Point Capital and GIC completed the acquisition of a majority stake in Ascensus for $3bn.

Private equity firms Stone Point Capital and GIC Private completed the acquisition of a majority stake in Ascensus, an American financial services company, from Genstar Capital, Aquiline Capital Partners, and Atlas Merchant Capital. Financial terms were not disclosed. "Their commitment will only strengthen our ability to continue investing in new capabilities, technology, and solutions; enhance our already world-class client service levels; and attract top talent to our organization," David Musto, Ascensus President and CEO.