Stone Point Capital has held the final close of Trident X, its tenth flagship private equity fund, with $11.5bn in total capital commitments – surpassing both its original $9bn target and hard cap, and marking the firm’s largest fundraise to date.
The close is a substantial step up from the $9bn raised for the Trident IX vehicle which closed in 2022.
The fund attracted strong demand from existing limited partners as well as significant new commitments from global institutional investors, highlighting sustained confidence in Stone Point’s focused sector strategy. General Partner and affiliated entities committed $750m to the fund.
“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,” said Chuck Davis, Chairman and Co-CEO of Stone Point.
Trident X began investing in May 2025 and has already completed its first deal: an investment in Ultimus Fund Solutions, a provider of fund administration services. Stone Point expects to continue targeting opportunities across insurance, asset management, fintech, business services, and adjacent sectors.
With more than 30 years of sector experience, Stone Point has backed over 160 companies across 70+ sub-sectors, executing a mix of buyouts, carve-outs, and growth investments. The firm also manages nearly $10bn in credit AUM through its Stone Point Credit platform.
