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Warburg Pincus closes acquisition of majority interest in Kestra Financial

Warburg Pincus LLC-affiliated funds completed the acquisition of a majority interest in independent broker/dealer Kestra Financial Inc.

Funds managed by Kestra's previous majority owner, Stone Point Capital LLC, will retain a minority interest in the firm. Kestra's management team will also keep equity positions, and it is expected that some advisers will retain investments.

The transaction is subject to regulatory approvals.