|
Laxman Pai, Opalesque Asia: Global private equity firm Stone Point Capital has closed its ninth private equity fund, Trident IX at more than $9 billion. This amount included approximately $500 million in commitments from the general partner and affiliated entities.
"Trident IX reached its hard cap, and received strong support from its existing investor base, as well as first-time commitments from several leading institutional investors," stated a media release from the private equity financing firm that makes investments in businesses within the financial services industry.
Chuck Davis, CEO of Stone Point said: "We look forward to continuing the proactive, focused sourcing process that has allowed us to consistently identify compelling investment opportunities for over 20 years."
The Fund began its investment period in September 2021 and has closed on three investments to date, including Businessolver, a provider of employee benefits administration software, Beeline, a workforce management software platform and Tivity, a provider of supplemental benefits to the Medicare Advantage and Medicare Supplement markets.
"We believe that our industry focus, established team, and network of long-term relationships will enable Stone Point to continue to deploy capital with best-in-class management teams and create value for our investors," said Jim Carey, a Managing Director of Stone Point.
Debevoise & Plimpton LLP acted as legal counsel for Stone Point in connect...................... To view our full article Click here
|
RSS
