Stone Point Capital, a private equity firm focused on financial services, has successfully closed its tenth private equity fund, Trident X, with total commitments reaching $11.5 billion. This amount surpasses the initial target and hard cap of $9 billion, and is $2.5 billion larger than its predecessor, Trident IX, which closed in 2022.
The fund garnered strong backing from existing investors and attracted new commitments from prominent institutional investors globally. The General Partner and affiliated entities contributed approximately $750 million to Trident X.
The investment period for Trident X commenced in May 2025, and the fund has already made its first investment in Ultimus Fund Solutions, a company specializing in full-service fund administration.
With over 30 years of experience in the global financial services sector, Stone Point Capital has evolved from focusing solely on private equity investments in insurance underwriting to a broader range of financial and business services. The senior leadership team has been operational since 1998, emphasizing their deep industry knowledge.
Stone Point is known for its flexible approach to transactions, engaging with experienced management teams. The firm has a strong track record in both standalone structured buyouts and carve-outs from larger organizations, leveraging its extensive network to enhance portfolio company performance.
To date, Stone Point has invested in over 160 companies across ten active verticals and more than 70 sub-sectors. In addition to its private equity funds, the firm manages a credit-investing platform, Stone Point Credit, which has nearly $10 billion in assets under management.
Debevoise & Plimpton acted as legal counsel for Stone Point during the formation of Trident X.
Chuck Davis, Chairman and Co-CEO of Stone Point Capital, expressed gratitude to their limited partners for their ongoing support, highlighting the firm’s commitment to identifying exceptional owner-operators in the financial services industry and helping them create lasting value.
Jim Carey, Co-CEO of Stone Point Capital, noted that the consistency of their team and strategy provides a competitive edge in sourcing investments. He expressed enthusiasm for the opportunities presented by Trident X and reaffirmed the firm’s focus on delivering value to investors.
