Stone Point Capital has closed its tenth flagship fund, Trident X, with $11.5bn in total commitments, marking the firm’s largest fundraise to date and surpassing its $9bn target and hard cap.

Trident X, which began deploying capital in May 2025, has already completed its first investment in Ultimus Fund Solutions, a provider of fund administration services. The fund is approximately $2.5bn larger than its predecessor, Trident IX, which closed in 2022 at $9bn.

The fund attracted strong support from returning investors as well as new global institutions. Stone Point and its affiliated entities contributed approximately $750m to the vehicle.

“We are grateful to our limited partners for their continued trust and support,” said Chuck Davis, Chairman and Co-CEO of Stone Point Capital. “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 business.”

Founded over 30 years ago, Stone Point Capital focuses on investments in financial services and adjacent industries, including insurance, asset management, banking, fintech, and business services. The firm has invested in more than 160 companies across 10 active verticals and 70 sub-sectors.

Jim Carey, Co-CEO of Stone Point, added: “We believe the consistency of our team, strategy and results continues to give us a distinct advantage in sourcing investments.”

Stone Point currently manages more than $65bn in assets across its private equity and credit platforms.

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