SumRidge Partners secures investment from Stone Point Capital

SumRidge Partners (SumRidge), an electronic fixed income market maker, has closed on a minority investment from funds managed by Stone Point Capital LLC (Stone Point), a private equity firm focused on investing in financial services businesses.

This investment will enable SumRidge to expand their footprint in the fixed income marketplace by broadening its product offerings and investing in its proprietary trading technology.
 
“This investment is an affirmation of the hard work and accomplishment on the part of the entire SumRidge team including the partners, employees and board. We are thrilled to be partnering with Stone Point as we embark on our next phase of growth,” says Tom O’Brien, CEO and President of SumRidge.
 
“We strive to provide world-class fixed income market making services and technology solutions for our clients in a continually evolving trading environment. Stone Point’s deep industry expertise and knowledge of our business model are a significant advantage to SumRidge and the clients we serve,” dds Kevin Morano, Chairman of SumRidge.
 
Chuck Davis, CEO of Stone Point, says: “The SumRidge management team has built a differentiated fixed income trading business. We are excited to be partnering with the team, and look forward to supporting the continued organic expansion of their platform.”
 
Sandler O’Neill + Partners, LP acted as the exclusive financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP served as legal counsel to SumRidge in connection with the transaction. Kramer Levin Naftalis & Frankel LLP served as legal counsel to Stone Point in connection with the transaction.