Stone Point Capital and CPP Investments acquire majority of OneDigital

Funds managed by Stone Point Capital and Canada Pension Plan Investment Board (CPP Investments) have acquired a majority stake of OneDigital, an Atlanta-based insurance broking and HR consulting firm.

The transaction, which is slated to close in the fourth quarter of 2025, values OneDigital at more than US$7 billion. The firm has 5,000+ employees across offices in most major markets in the United States.

OneDigital earlier this year expanded into Canada with the acquisition of PWL Capital, a Montreal-based independent wealth management firm with 70+ employees.

Stone Point and CPP Investments will acquire the stake from existing shareholders, including Onex Partners, which will remain a significant minority owner. Onex invested in OneDigital in 2020.

The transaction is the fourth equity recapitalization at OneDigital, which was founded in 2000. The deal will fuel inorganic and organic growth across the firm’s five practices: employee benefits & HR, retirement & wealth management, property & casualty, PEO, and Medicare Advantage.

"This partnership gives us the fuel to keep building – investing in both people and technology, while sharpening our capabilities and showing up even stronger for our clients,” said Adam Bruckman, president and CEO of OneDigital. “Over the past five years with Onex, we’ve meaningfully expanded our platform and are grateful for their continued investment."

Stone Point is a Greenwich, Connecticut-based alternative investment firm with $70 billion of assets under management. The firm targets companies in the global financial services industry and related sectors.

CPP Investments is the investment management organization that manages the Canada Pension Plan Fund, which is worth $731.7 billion and has 22 million contributors and beneficiaries.

“In this new investment alongside our valued partners at Stone Point Capital, we look forward to working with management and Onex, a long-standing shareholder, to support OneDigital in its continued expansion and impact to deliver value to the CPP Fund," said Sam Blaichman, managing director, head of direct private equity, CPP Investments.

Evercore, Ardea Partners, and Barclays served as financial advisors to OneDigital on the transaction.