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Stone Point Capital nears final close for $4.5bn fund

13 Jan 2014

dollar 20_sqPrivate equity firm Stone Point Capital is reportedly aiming to close its latest multi-billion fund before the end of January.

Stone Point is seeking $4.5bn for the fund, Trident VI, said PeHUB, citing three sources.

“It was basically open and shut in no time. Most people view [Stone Point] as the best financial services sector-focused fund in the marketplace,” an LP told the publication.

The fund follows Stone Point’s fifth vehicle, which was closed with commitments of $3.5bn in January 2011, four years after its fourth fund raised $2.25bn.

Stone Point’s Trident V fund was generating an IRR of four per cent as of the end of June 2013, according to CalPERS data.

Earlier this month it was reported that Trident VI had secured a $60m commitment from the Tennessee Consolidated Retirement System.

Stone Point invests between $50m and $350m in financial services businesses.

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