Stone Point Closes Trident X Fund, Raises $11.5 Billion

Stone Point Capital, a private equity firm focused on financial services and related industries, has announced the final closing of its tenth private equity fund, Trident X, with $11.5 billion in total commitments.

Trident X exceeded its original target and hard cap of $9 billion and is approximately $2.5 billion larger than Trident IX, a $9 billion fund, which closed in 2022.

Trident X received strong support from its existing investor base, as well as first-time commitments from a number of leading institutional investors globally. General Partner and affiliated entities contributed approximately $750 million.

Chuck Davis, Chairman and Co-CEO of Stone Point Capital, said that they were grateful to their limited partners for their continued trust and support, and were proud of the enduring strength of 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,” Davis said.

Jim Carey, Co-CEO of Stone Point Capital, said they believed in the consistency of their team, strategy and results continues to give the company a distinct advantage in sourcing investments through its extensive network.

The company is excited by the opportunities it sees for the tenth flagship fund and remain focused on creating value for our investors, he added.

Trident X began its investment period in May 2025 and has closed on one investment to date, Ultimus Fund Solutions, a provider of full-service fund administration services.

Stone Point has over 30 years of experience investing in the global financial services industry, beginning with private equity investments in insurance underwriting and expanding over time into a wide range of financial and business services sectors.

Members of the senior leadership team have led operations since 1998. The Firm partners with experienced management teams and is flexible with respect to the types of transactions pursued through its Trident Funds.

Highly Experienced

Stone Point has experience in standalone structured buyouts, as well as in carve-outs from larger organisations, bringing deep sector knowledge and an expansive network to every portfolio company engagement.

Stone Point, which has $65 billion of assets under management across its private equity and credit platforms, has invested in more than 160 companies across 10 active verticals and over 70 sub-sectors. The firm also has a credit-investing platform, Stone Point Credit, which has nearly $10 billion of assets under management.

Stone Point targets investments in companies in the global financial services industry and related sectors based primarily in North America and Western Europe. The firm invests in alternative asset classes, including private equity through its flagship Trident Funds and credit through commingled funds and separately managed accounts.

In addition, Stone Point Capital Markets supports its firm, portfolio companies and other clients by providing dedicated financing solutions.