CNO Financial Group has acquired a minority interest in Rialto Capital and agreed to invest in several Rialto-managed investment vehicles. CNO’s minority interest joins funds managed by Stone Point Capital.

Rialto is a real estate investment and asset management company with a dedicated special servicer. Rialto invests and manages assets throughout the real estate capital structure in real estate properties, loans and securities and has approximately $14.2 billion of assets under management.

CNO provides life and health insurance, annuities, financial services, and workforce benefits services through their brands, including Bankers Life, Colonial Penn, and Washington National.

“This partnership demonstrates CNO’s commitment to allocate capital and diversify our investment portfolio to enhance shareholder returns,” said Gary Bhojwani, CEO of CNO. “We are pleased to invest in Rialto and its proven management team, who are leading investors and asset managers in this important sector.”

Deutsche Bank Securities Inc. served as exclusive financial advisor and Mayer Brown LLP acted as legal counsel to CNO Financial Group. Wells Fargo Securities LLC served as exclusive financial advisor and Kramer Levin Naftalis and Frankel LLP acted as legal counsel to Rialto.