Stone Point Capital is testing a roughly $1bn evergreen fund as it looks to expand into the retail wealth market, according to a report by Bloomberg. The vehicle is being seeded with capital from the firm’s Trident flagship private equity funds and could eventually be opened to wealthy individual investors.
The fund is expected to include between $200m and $400m from external seed investors. Stone Point manages more than $65bn across private equity and credit strategies and has reportedly told investors it hopes the initiative will help build a track record that supports broader distribution to private wealth channels for future funds. The structure remains under development and may change.
The evergreen fund will co-invest alongside Trident X, which closed in July with $11.5bn in capital, and future flagship funds. Investments are expected to span buyout co-investments, preferred equity, insurance solutions, and credit.
