Stone Point Capital, a private equity firm specializing in financial services, has officially closed its tenth fund, Trident X, with a total of $11.5 billion in commitments. This significantly exceeds its $9 billion target and hard cap, making it $2.5 billion larger than its predecessor, Trident IX, which closed in 2022.
Trident X saw strong backing from existing investors and new commitments from leading global institutional investors, with general partners and affiliated entities contributing around $750 million.
The fund began its investment period in May 2025 and has already made its first investment in Ultimus Fund Solutions, a full-service fund administration provider.
With over 30 years of experience, Stone Point Capital has a proven track record in the global financial services industry, having invested in over 160 companies across 10 active verticals. The firm’s senior leadership has been in place since 1998, and they specialize in partnering with experienced management teams for structured buyouts and carve-outs.
Stone Point also manages Stone Point Credit, which is a credit-investing platform with nearly $10 billion in assets under management.
Counsel: Debevoise & Plimpton served as legal counsel for 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
