On July 7, 2015, Stone Point Capital LLC announced an asset management platform focusing on stressed and distressed credit investments called Cross Ocean Partners and its acquisition of European Special Situations business.
Stone Point Capital LLC (“Stone Point”), which manages six private equity funds with aggregated capital of approximately $13 billion, also announced that former Head of Global Credit and Special Situations at Bank of America Merrill Lynch (“BofA”), Graham Goldsmith, will serve as both the Chief Executive Officer and Co-Chief Investment officer of Cross Ocean Partners (“Cross Ocean”).
Cross Ocean also acquired the European Special Situations business which raised more than $1.5 billion in 2013. The European Special Situations business is led by Steve Zander, who worked with Goldsmith at BofA. Zander will now manage the company’s European business.
Cross Ocean Partners will focus on asset classes including real estate, structured credit, corporate loans and bonds, and liquidations. The firm will be based on London, England and Greenwich, Connecticut.
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