Private equity firm, Stone Point Capital, has closed its fifth private equity fund, Trident V, with total capital commitments of $3.5 billion. The firm had targeted to raise $2.25 billion from existing and new institutional investors.

More than 100 limited partners participated in the fund. Lazard Frères & Company was appointed to act as placement agent for Trident V and Debevoise & Plimpton was the legal counsel.

Click here for the release from Market Wire.