Anyone have some insight on stone point? Last thread on them was pretty bare, and there was little before that.
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Top FIG investor. Has exposure to or previously has owned a ton of top insurance brokerages.
Has alot of exposure to consumery financial firms and you may get exposure to some of the darker side of consumer finance (ie; debt collection).
People I know there seem nice but don't know how they treat juniors.
Have spoken with them about a few different portfolio companies. Without question they're a top of the table FIG investor and also have some great RE-related assets as well. There's a lot of stereotypes out there about how weird FIG bankers & PE folks are and... they're pretty true for Stone Point (at least from the Principal, VPs and Associates I've spoken to). They're undoubtedly extremely smart people, but the conversations my VP and I have had with them always feel a bit awkward. We got the impression they would rather go back to being alone in a room with excel and a whiteboard than talking to us. Calls would normally have a few uncomfortably long silences and one time when we had a Zoom one of the associates kept completely deadpan facial expression staring into the camera the entire time, literally 0 expressiveness and barely blinking, even when talking. I didn't mind too much because I'm friends with a couple software engineers who are very clearly on the spectrum and would act similarly from time to time, but my VP would always make the comment afterwards about "how weird these guys are."
This is from conversations with ~8 different folks on the investment team so this is by no means a comprehensive description since they have something like 50 people in total, but since it was a sampling from associate through principal I get the feeling it's not exactly uncommon.
Can't speak to how they treat juniors or anything internal with regard to culture.
Did FT analyst process with them last year. They've all been around the block so they will raise money regardless. Thought senior guys were qualified/friendly but not the junior level (very arrogant, patronizing, would probably wanna quit if I was with them day-to-day). Some of the interviews felt like I was talking to rocks (no emotions expressions).
What was your FT process like?
2014 vintage is ~20% IRR
2017 vintage is too early to tell but >10% IRR
As stated above, top notch FIG investor - arguably the best in the industry. I have some direct exposure to the firm and can say I’m very surprised by the comment above surrounding the team’s personalities. I found the professionals to be extremely good people to be around and got the sense the culture was quite collegial. That being said, there are some odd-balls which are mostly confined to a few verticals so that might be what the above poster encountered (i.e. I had some weird encounters with those in RE services, etc.). Regarding the comment on returns - I have no idea where that information is coming from - returns have been absurdly good and the worry for years for the firm is that they haven’t wanted to bring in too much capital too quickly
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