Stone Point and Genstar to take co-controlling stakes in fintech firm Ascensus

• GIC, which originally invested in Ascensus in 2019, will remain invested alongside Stone Point and Genstar as part of the transaction
• Stone Point initially invested in Ascensus in 2021
• Genstar returns as an owner having previously been a lead investor in Ascensus from 2015 to 2021

Stone Point Capital and Genstar Capital have agreed to acquire co-controlling stakes in Ascensus, a Dresher, Pennsylvania-based provider of tax-advantaged savings solutions and technology, for undisclosed terms.

Stone Point and Genstar are each investing new capital and will hold equal stakes in the company.

GIC, which originally invested in Ascensus in 2019, will remain invested alongside Stone Point and Genstar as part of the transaction.

Ascensus will continue to operate with its current leadership team, client relationships, and service model.

Stone Point initially invested in Ascensus in 2021.

Genstar returns as an owner having previously been a lead investor in Ascensus from 2015 to 2021.

“Our decision to reinvest in Ascensus reflects our strong conviction in the company and the opportunities ahead,” said Fayez Muhtadie, co-head of private equity at Stone Point. “As the leading independent player in the savings ecosystem, Ascensus has a differentiated market position, significant scale, and a compelling opportunity to benefit from powerful long-term industry trends. Having partnered closely with the senior management team at Ascensus since 2021, we have tremendous confidence in their ability to build on Ascensus’ leadership position.”

The transaction is expected to close in the coming months. At that time, Stone Point and Genstar will assume joint governance of Ascensus.

J.P. Morgan Securities LLC, BofA Securities, and Wells Fargo served as financial advisors and Simpson Thacher & Bartlett LLP served as legal counsel to Ascensus. Lazard Frères & Co. LLC served as buyside financial advisor to Stone Point. Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC served as buyside financial advisors and Willkie Farr & Gallagher LLP served as legal counsel to Genstar.

Ascensus oversees more than $1.3 trillion in assets under administration as of August 3, 2026.