Four sources told PeHub that Stone Point Capital was already in talks with investors about the formation of its sixth buyout fund. Private equity and placement sources revealed that the financial services firm was looking to raise anywhere from USD 3 billion to USD 4.5 billion for the fund.
One source said Stone Point would not be getting the services of a placement agent for its sixth fund. The person said Fund VI would be launched soon. "They have demand for over $4 billion," the source added.
The Greenwich, Connecticut-based company formed its last fund in January 2011. Trident V was able to raise USD 3.5 billion. According to Stone Point's website, the PE firm is headed by Charles Davis, an executive who had worked at Goldman Sachs for 23 years. Stone Point Chairman Stephen Friedman was also a former Goldman Sachs chair.
A private equity executive interviewed by PeHub said the fund's connection with Goldman Sachs was an advantage. "It doesn't hurt to have former head of Goldman atop your private equity fund. [Stone Point] has been continually active, even during the financial crisis, and most of their deals have worked," the executive said.
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