Stone Point Closes Record $11.5B Trident X Fund

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Stone Point $11.5B Fund

Stone Point Capital LLC, the private equity powerhouse known for its deep play in financial services, announced Monday it has closed its largest fund ever — the $11.5 billion Trident X Fund — smashing past its $9 billion target and hard cap.

Advised by Debevoise & Plimpton LLP, the new flagship fund represents a significant leap from Trident IX, which closed at $9 billion in 2022. The close underscores investor confidence in Stone Point’s disciplined and strategic approach to building businesses in the financial services and adjacent sectors.

“We believe the consistency of our team, strategy, and results continues to give us a distinct advantage,” said Co-CEO Jim Carey, pointing to the firm’s tightly knit network as a powerful deal-sourcing engine.

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Big Fund, Big Ambitions

Trident X began deploying capital in May and has already locked in its first deal: an investment in Ultimate Fund Solutions, a full-service fund administrator.

The fund drew strong backing from returning investors and secured first-time commitments from a mix of global institutional backers. The general partner and affiliated entities also chipped in $750 million, showing Stone Point’s own skin in the game.