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Pierpont launches as a government securities broker

Pierpont Securities has launched as a government securities broker dealer with USD220m in capital and investor partnerships with two equity investors, Stone Point Capital and General Atlantic.

Stone Point Capital, through its fund Trident IV, and General Atlantic have each committed USD100m in capital and Pierpont principals have invested an additional USD20m.
 
Pierpont was founded in 2009 by three principals with 25 years of experience working together in two of the largest financial services firms on Wall Street. They have continually operated in the fixed income markets and have particular expertise in Pierpont’s core products: US treasuries, federal agencies and associated repurchase products.
 
Mark B. Werner, Pierpont’s chief executive and a member of the US Treasury Department’s Borrowing Advisory Committee, has been active in industry forums and policy-making groups for much of his career. Werner partnered with long-time colleagues Thomas C. Connor and Joseph P. Blauvelt to found Pierpont.
 
“Stone Point Capital and GA have exceptional records investing in financial services companies and are valuable strategic partners for Pierpont,” says Werner. “We look forward to benefiting from their expertise and insight through their board participation and our ongoing partnership.”
 
We are delighted to be partnering with the Pierpont management team and General Atlantic to create a new broker-dealer focused on government securities,” says Charles A. Davis (pictured), chief executive of Stone Point Capital. “Mark, Tom and Joe bring tremendous talent and experience to the company. We believe there is a significant opportunity at this time for a high quality, well capitalised, start-up broker dealer to gain meaningful market share and Pierpont is well-positioned to do so.”
 
Credit Suisse acted as financial adviser for the transaction.

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