Stone Point Capital Closes Trident IX with $9 Billion of Committed Capital
GREENWICH, Conn., July 12, 2022 /PRNewswire/ — Stone Point Capital LLC, a private equity firm based in Greenwich, Connecticut, focused on financial services and related industries, announced that it held the final closing of its ninth private equity fund, Trident IX, L.P., with more than $9 billion of total commitments, including 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 a number of leading institutional investors.
“We are grateful to our limited partners for their continued support, particularly throughout the pandemic and other recent global challenges,” said Chuck Davis, CEO of Stone Point. “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 connection with the formation of Trident IX.
About Stone Point Capital LLC
Stone Point is an investment firm based in Greenwich, CT, with more than $40 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in a number of alternative asset classes, including private equity through its flagship Trident Funds. Stone Point also manages both liquid and private credit funds and managed accounts. In addition, Stone Point Capital Markets supports our firm, portfolio companies and other clients by providing dedicated financing solutions. For more information, please visit www.stonepoint.com.
Mary Catherine Manin
SOURCE Stone Point Capital