Stone Point raises $610.5m in first close of new Insurance Solutions Fund

Stone Point Capital LLC, the private equity and credit investment firm with an insurance and reinsurance specialism, has successfully raised $610.5 million in a first close for a new strategy, named the Stone Point Insurance Solutions Fund.

Details are limited at this time, but market source had previously told us that Stone Point Capital was working on a new fund strategy to invest into reinsurance sidecar structures and other partnerships with re/insurance businesses.

Given the lack of information, we cannot confirm that the above is the precise mandate for deployment of this new Stone Point Insurance Solutions Fund.

But, given the investment firm’s historical focus has included sidecar structures, it is reasonable to assume they might be one of the investment categories in scope again for this new capital raise.

Stone Point Capital has a long history of investing across the insurance landscape and value chain, with specialisms in distribution, services and underwriting ventures.

Recent examples of sidecar investments include: Stone Point’s participation in AmRisc, LLC’s E&S property focused collateralized reinsurance sidecar named Trouvaille Re Ltd. which began with the first iteration of the structure in 2024; the investment firm participating in Starwind Specialty Insurance Services’s casualty sidecar Fractal Re Ltd.; the firm’s partnership with AXIS Capital on the Monarch Point Re casualty sidecar type vehicle; and a number of sidecar transactions under the New Point name over the years; amongst others.

In addition, Stone Point also made early investments into two insurance-linked securities fund management platforms, a minority stake in Securis Investment Partners in 2007 which it later sold and a seed investment into New Ocean Capital Management in 2013, further demonstrating its appetite for deriving returns from the global reinsurance market.

In the case of this new strategy, these first close commitments totalling $610.5 million have been made to a Cayman Islands structure named the Stone Point Insurance Solutions Fund, L.P.

The investment firm’s Insurance Solutions arm is behind this new launch, with its Stone Point Insurance Solutions GP named as the general partner of the fund.

The Stone Point Insurance Solutions Fund is a pooled investment vehicle and classified as a private equity strategy.

A first close in late May saw $610.5 million of equity in the fund sold, with nine investors backing the new Insurance Solutions focused strategy.

We understand Stone Point Capital also has two new co-investment entities that are appear to be designed for channelling investor capital to its Insurance Solutions strategy, a Delaware structure named SPIS AP Co-Invest US LP and a Bermuda structure named SPIS AP Co-Invest BDA LP.

At this stage it’s not clear if more funds are being raised, potentially for a future additional close to the overall capital raising for Stone Point’s latest re/insurance investment fund.

Wherever it gets deployed along the value chain of distribution, servicing and underwriting risks, this new fund will provide meaningful firepower to Stone Point Capital as its Insurance Solutions business continues to expand its partnerships with entities across the insurance and reinsurance space.