Fiserv Inc. of Brookfield, Wis., has closed its deal to sell a 51% stake in its insurance business to Trident IV LP, a private-equity fund managed by Stone Point Capital LLC.
The $510 million deal, announced this month, is part of Fiserv's effort to shed operations that are not part of its core focus on financial technology and payments.
Fiserv announced the deal's closing Tuesday.
It sold its health operations in January to United Health Group Inc. of Minnetonka, Minn., for $775 million. A month later Fiserv sold its investment support services unit to TD Ameritrade Holding Corp. for $225 million, and its mortgage automation unit to TVC Capital LLC.
Jeff Yabuki, Fiserv's president and chief executive, has said he wanted to retain a stake in the insurance business to maintain relationships with insurance companies that might be interested in Fiserv's other financial technology products.
