SOURCE: Stone Point Capital LLC

March 14, 2008 11:26 ET

Townsend Named to Castle Point Capital Board of Directors and Joins Stone Point Capital as Senior Advisor

GREENWICH, CT--(Marketwire - March 14, 2008) - Castle Point Capital, a long/short asset manager focused on the financial services industry, announced that John L. Townsend, III has joined its board of directors. Mr. Townsend will also serve as a Senior Advisor to Stone Point Capital, the manager of the Trident Funds, which sponsored the formation of Castle Point Capital in 2005.

Mr. Townsend is a private investor who has been actively involved in alternative asset classes as an outside member of the Riverstone Group, a private investment fund, and a member of the Executive Committee of the University of North Carolina Investment Fund and other foundations and endowments. Mr. Townsend was previously employed by Goldman, Sachs & Co. from 1987 to 2002, serving as a general partner from 1992 to 1999 and a managing director from 1999 to 2002. Mr. Townsend is a director of Belk, Inc. and International Paper Company.

Charles A. Davis, CEO of Stone Point Capital and a director of Castle Point Capital, said, "John brings a wealth of experience and we look forward to his involvement in many parts of our business."

Stone Point Capital Chairman, Stephen Friedman, said, "Chuck and I have known John for the past twenty years and we look forward to working with him again."

"Stone Point has been a valuable resource since our inception and adding John to our board will strengthen our foundation and broaden our perspective," said Castle Point Capital CEO Todd A. Combs.

John Townsend said, "I am excited about this affiliation as it is congruent with my experience in alternative asset investing and Stone Point's interest in the asset management business."

Stone Point Capital LLC is a global private equity firm based in Greenwich, Connecticut. Stone Point Capital, the manager of the Trident Funds, has raised more than $10 billion in committed capital to make investments in the global insurance, employee benefits and financial services industries. Stone Point Capital has a 20 year track record of successful investments in its targeted sectors.

Castle Point Capital is a value-oriented long/short equity manager focused on the financial services sector with approximately $350 million in assets under management. Castle Point was formed in November 2005 by Stone Point Capital and Todd A. Combs.

This is not an offer to purchase or sell securities, and investment advisory services are not provided to the public by either Stone Point or Castle Point.

Contact Information

  • Contact Information:
    Charles A. Davis
    Stone Point Capital LLC
    (203) 862-2900