Fourth recapitalisation positions OneDigital for growth in benefits, wealth and retirement
Canada Pension Plan Investment Board (CPP Investments) and Stone Point Capital now hold a majority stake in OneDigital in a deal that values the insurance and retirement services firm at more than US$7bn.
Onex Partners said funds managed by Stone Point Capital and CPP Investments closed a majority investment in OneDigital, an insurance brokerage, financial services and workforce consulting firm.
The investors acquired their stake from existing shareholders, including Onex Partners, which will remain a significant minority owner.
The transaction, first announced on September 19, values OneDigital in excess of US$7bn and will support the company’s continued growth through a combination of organic expansion and strategic acquisitions.
It is OneDigital’s fourth equity recapitalization—underscoring long-term confidence in its founder-led leadership, differentiated operating model, and sustained trajectory of innovation and growth across five core verticals: employee benefits and HR, retirement & wealth management, property & casualty, PEO, and Medicare Advantage.
Total proceeds from the transaction to Onex Partners V (including co-investors) are approximately $1.1bn, while Onex Corporation will receive about $235m.
Onex Partners is Onex’s upper middle market buyout strategy focused on control equity investments in North America and Europe in selected industry verticals.
It has invested over $21bn across six funds, acquired more than 50 operating company platforms and completed more than 570 add‑on acquisitions, and has offered about $7bn of co‑investment capital across 23 co‑investment opportunities since inception.
