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Laxman Pai, Opalesque Asia:

Stone Point Capital, a specialist investor in financial-services businesses for over 30 years, closed the vehicle, Trident X, at $11.5 billion, well above its original $9 billion target.

Trident X is approximately $2.5 billion larger than Trident IX, a $9 billion fund, which closed in 2022.

According to a media release from the US-based alternative investment firm, Trident X received strong support from its existing investor base, as well as first-time commitments from several leading institutional investors globally. Investors in the fund include the $149.7 billion Minnesota State Board of Investment, St. Paul. General Partner and affiliated entities contributed approximately $750 million.

"We are grateful to our limited partners for their continued trust and support, and we are proud of the enduring strength of our Trident Funds over 30 years and many market cycles," said Chuck Davis, Chairman and Co-Chief Executive Officer 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 businesses."

Stone Point Capital has about $65 billion in assets under management.

Jim Carey, Co-Chief Executive Officer of Stone Point Capital, said: "We believe the consistency of our team, strategy, and results continues to give us a distinct advantage in sourcin......................

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