Stone Point Capital, a private equity firm specializing in financial services and related industries, announced the final closing of its tenth private equity fund, Trident X, with total commitments of $11.5 billion. This new fund significantly exceeded its original target and hard cap of $9 billion and is approximately $2.5 billion larger than its predecessor, Trident IX, which closed in 2022 at $9 billion.
Trident X received strong support from its existing investor base and attracted first-time commitments from numerous leading institutional investors worldwide. The General Partner and affiliated entities contributed around $750 million to the fund.
The investment period for Trident X began in May 2025, and the fund has already completed its first investment in Ultimus Fund Solutions, a provider of full-service fund administration services.
Stone Point has over 30 years of experience investing across the global financial services industry. Initially focused on private equity investments in insurance underwriting, the firm has expanded into a wide array of financial and business services sectors. Members of the senior leadership team have been in operational roles since 1998. Stone Point partners with experienced management teams and remains flexible in the types of transactions it pursues through its Trident Funds.
The firm has considerable experience in both standalone structured buyouts and carve-outs from larger organizations, bringing deep sector knowledge and a broad network to every portfolio company engagement. To date, Stone Point has invested in over 160 companies across 10 active verticals and more than 70 sub-sectors. In addition to its private equity funds, Stone Point also manages a credit-investing platform, Stone Point Credit, which has nearly $10 billion in assets under management.
Debevoise & Plimpton served as legal counsel for Stone Point during the formation of Trident X.
KEY QUOTES:
“We are grateful to our limited partners for their continued trust and support, and we are proud of the enduring strength of our Trident Funds over 30 years and many market cycles. With Trident X, we will continue doing what we believe we do best – proactively identifying exceptional owner-operators in and around the global financial services industry and helping them build lasting value in their businesses.”
Chuck Davis, Chairman and Co-Chief Executive Officer of Stone Point Capital
“We believe the consistency of our team, strategy and results continues to give us a distinct advantage in sourcing investments through our extensive network. We are excited by the opportunities we see for our tenth flagship fund and remain focused on creating value for our investors.”
Jim Carey, Co-Chief Executive Officer of Stone Point Capital
